Lockdown extension disrupts IndiGo services

Since the beginning of Coronavirus pandemic, companies belonging to either aviation or tourism as well as hotel industry have seen a major downfall with lockdowns forcing them to suspend their business activities.

Previously, most of the airline companies had announced reduction in the number of flight plans. With the compulsory nationwide 21-day lockdown being implemented in India, the domestic as well as international flight travel was halted with permission allowed only for cargo with extreme preventive measures being taken to avoid the spread of Coronavirus. However, with an increasing number of COVID-19 cases in India, the government has extended the nationwide lockdown till May 3, 2020.

In regard to this, IndiGo announced that its commercial international and domestic flights will continue to remain suspended until May 3, 2020. IndiGo has already mentioned that the current situation will surely impact the company’s profitability and quarterly earnings.

Reacting to the news, the stock of InterGlobe Aviation closed at Rs 1,010.20, down by 5.43 per cent or Rs 58.05 per share. The 52-week high is Rs 1,911 and 52-week low is Rs 765.05 on BSE.