NEW DELHI: InterGlobe Aviation, the parent company of IndiGo, saw its stock plunge over 8% on Monday as the airline’s flight cancellations and disruptions extended into a seventh consecutive day. The shares dropped to Rs 4,926.55 down Rs 444.75 (-8.28%) as the markets closed. The stock opened at Rs 5,100.05, reached a high of Rs 5,205.05, and later hit a low of Rs 4,842.20.
The crisis deepened on Monday with more than 250 cancellations from Delhi and Bengaluru alone, according to sources quoted by PTI. At Delhi airport, 134 flights – 75 departures and 59 arrivals were cancelled, while Bengaluru saw 117 cancellations, including 65 arrivals and 62 departures. Some tallies indicated the Bengaluru figure was 127, highlighting the scale of the disruption.Also read: IndiGo stock price crashes over 7% in 5 days; what’s the outlook?IndiGo has cited the rollout of new flight duty time limitation (FDTL) norms as the key trigger, claiming the updated regulations have forced significant changes to pilot rosters. The airline has been under pressure since December 2, when cancellations surged and lakhs of passengers were left stranded at airports nationwide.
Regulatory pressure intensifies
Late on Sunday, aviation regulator DGCA extended the deadline for IndiGo’s top leadership to respond to its show cause notice. CEO Pieter Elbers and COO Isidro Porqueras must now file their replies by 6pm on Monday. The regulator had warned that the “large-scale operational failures” pointed to lapses in planning, oversight and resource management, and demanded explanations within 24 hours.
What triggered the chaos?
The new duty-time norms, rolled out in two phases on July 1 and November 1, mandate longer weekly rest periods of 48 hours, extended night hours, and a cap of two night landings instead of six. The rules were initially resisted by IndiGo and Air India, but were eventually enforced following Delhi high court directions. IndiGo has secured temporary relaxations in the second phase of rules until February 10.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
