InterGlobe Aviation shares end nearly 1% higher

Shares of InterGlobe Aviation, which is on an expansion spree, ended nearly 1 per cent higher Thursday.

The scrip ended at Rs 1,161.35, up 0.26 per cent on BSE.

At NSE, shares of the company rose 0.65 per cent to close at Rs 1,163.80.

Meanwhile, NSE had sought clarification from InterGlobe Aviation with respect to announcement regarding IndiGo and Turkish Airlines codeshare agreement.

The airline had announced its plans to launch services to Istanbul and had signed a code-share pact with Turkish Airlines for seamless connectivity to 20 global destinations for its passengers from Istanbul and onwards.

In a clarification Thursday the company said, "the disclosure made on December 21, 2018 was in relation to a proposed codeshare arrangement between lnterGlobe Aviation and Turk Hava Yollan A.O. (Turkish Airlines). The codeshare and mutual cooperation agreement is purely a commercial arrangement between the parties."

The principle underlying such arrangement is in relation to the increased network of services proposed to be offered by the two carriers, and does not have any impact on the shareholding pattern of both parties, the filing said.

 

IndiGo is likely to induct its first long range jet A321 neo (new engine option) in its fleet Saturday, after a delay of almost one month, which will pave the way for the airline to launch its much-awaited medium-haul international operations, a source had said Tuesday.

Besides Istanbul, the budget carrier also reportedly plans to launch services to Gatwick (London), Riyadh (Saudi Arabia) and Yangon (Myanmar) as part of its international network expansion plans.