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After the company signed a memorandum of understanding (MoU) to become the airport’s launch carrier, its share price in the aviation industry increased by as much as 1.35 percent. 

With a market capitalization of Rs 1,00,440.29 Crores. InterGlobe Aviation Ltd, On Tuesday, The shares were trading at Rs 2,617.90 a share, an increase of 1.91 percent from the previous closing price. 

According to the Economic Times, Noida International Airport (NIA) signed a memorandum of understanding (MoU) to become the airport’s launch carrier with InterGlobe Aviation Ltd. As per this agreement, NIA and IndiGo will collaborate to enhance and expand air connectivity between both inside and outside of Uttar Pradesh. The collaboration will also investigate fresh and creative concepts in an effort to improve customer satisfaction and operational effectiveness. 

In addition to the above para, By the end of 2024, the first phase of the Noida International Airport will be operational. It will have one runway and one terminal, and it can accommodate 12 million passengers annually. The airport will be able to handle 70 million passengers annually once the fourth phase is finished. 

Looking into the company’s performance, InterGlobe Aviation Ltd’s revenue increased by 19.57 percent from Rs 12,498 Crore in Q2FY23 to Rs 14,944 Crore in Q2FY24. During the same period, net profits increased by 112 percent from a loss of Rs 1,585 crore to Rs 188 crore. 

InterGlobe Aviation Ltd’s recent shareholding pattern, The Promoters of the Company own 63.25 percent while Retail shareholders own a 3.16 percent stake in the company and Foreign Institutional Investors own a 3.16 percent stake. 

India’s biggest passenger airline, Interglobe Aviation Ltd. (Indigo), is a low-cost carrier. It delivers a straightforward, unbundled product to passengers, living up to its unique brand promise of offering “cheap fares, on-time flights, and a courteous and hassle-free service” to clients. 

Written by:- Abhishek Singh

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