IndiGo Ends Lower After Airline Says Sytem Down

Shares in InterGlobe Aviation - the parent company of the budget airline IndiGo - settled on a negative note after swinging between gains and losses on Monday. On the Bombay Stock Exchange (BSE), IndiGo shares opened marginally higher at Rs 1,445 apiece but soon turned volatile and switched direction at least eight times by afternoon. It finally settled 0.40 per cent lower at Rs 1434.50 apiece on the BSE. On the National Stock Exchange (NSE), IndiGo's shares ended 0.25 per cent lower at Rs 1,435.10 apiece. In a statement on Monday, IndiGo said its systems were down across the network since morning, and that it expects operations at airports to be impacted as a result.

IndiGo's outage comes as dozens of flights face delays or cancellations on Monday, according to reports, due to a decline in visibility because of hazardous air pollution in New Delhi.

On the BSE, IndiGo shares rose to as much as 1.35 per cent to an intraday high of Rs 1,459.75 apiece and dropped as much as 1.18 per cent to an intraday low of Rs 1,423.15 apiece. On the NSE, IndiGo's shares jumped as much as 1.45 per cent to hit an intraday high of Rs 1,459.65 apiece. At the day's lowest point, IndiGo's shares declined 1.18 per cent on the NSE.

"Our systems have been down across the network since morning. As a result, we are expecting our operations to be impacted across the airports. All efforts are being made to resolve the issue at the earliest," the airline said in a statement.

IndiGo is the country's largest carrier with a nearly 50 per cent share of the domestic market.

In a separate development, country's air safety watchdog on Friday said that IndiGo must replace all Pratt & Whitney (P&W) engines on its fleet of 97 twin-engine Airbus A320neo family aircraft with new P&W power units, following recent inflight engine shutdowns.