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IndiGo signs pact with NYSE-listed Travelport; shares up

Domestic airline major InterGlobe Aviation, or IndiGo, and a travel commerce platform Travelport have announced a strategic partnership which will see IndiGo distribute all of its fares and ancillary product to Travelport-connected customers worldwide.

By: | New Delhi | Updated: September 15, 2016 5:02 PM
interglobe aviation, indigo shares Domestic airline major InterGlobe Aviation, or IndiGo, and a travel commerce platform Travelport have announced a strategic partnership which will see IndiGo distribute all of its fares and ancillary product to Travelport-connected customers worldwide.

Domestic airline major InterGlobe Aviation, or IndiGo, and a travel commerce platform Travelport have announced a strategic partnership which will see IndiGo distribute all of its fares and ancillary product to Travelport-connected customers worldwide. Travelport is a listed company on the New York Stock Exchange. At 3.02 pm, shares of InterGlobe Aviation were trading 1.83 per cent up at Rs 878. The scrip opened the day at Rs 864.50 and has touched a high and low of Rs 883.05 and Rs 863, respectively, in trade so far. Later, the scrip settled the day 0.95 per cent up at Rs 870.40.

In a BSE filing InterGlobe Aviation said, “The distribution partnership will help the airline reach travellers in international markets as it continues to expand its route network into destinations in the Indian Subcontinent, the Middle East and South East Asia. Adiya Ghosh, president and whole time director, IndiGo believes the arrangement with Travelport will help the aviation company to reach new customers, both at home and overseas, in a cost effective manner.

As of July 2016, IndiGo was having a market share of 39.8 per cent. For the quarter ended June 30, 2016, the company reported a net profit of Rs 591.77 crore, down 7.38 per cent, against Rs 638.90 crore in the same quarter last year. Operating profit of the company fell 12.32 per cent year-on-year to Rs 977.83 crore for the quarter under review against Rs 1115.22 crore in the same quarter last year. However, net sales of IndiGo grew by 8.51 year-on-year to Rs 4545.19 crore.

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