IndiGo Is Now The World’s 3rd Largest Airline In Market Cap Behind Delta Air Lines And Ryanair
Summary
- IndiGo’s latest market capitalization has placed it as the third most valuable airline company in the world.
- The airline’s stock price has gone up in the past few months.
- The Indian carrier still trails Delta Air Lines and Ryanair, which are the second and most valuable airline companies globally, respectively.
IndiGo, trading as InterGlobe Aviation on the BSE and The National Stock Exchange of India (NSE), two Mumbai-based stock exchanges, has reached a market cap of INR1.466 trillion ($17.5 billion), becoming one of the most-valued airline brands in the world.
Rapid rise in stock price
Over the course of 2024, IndiGo’s share price has skyrocketed on the BSE, with the airline’s stock closing the day of trading at INR2,975.65 ($35.69) on January 2, 2024. While it briefly dipped in late January, the share’s price continued to rise steadily year-to-date (YTD).
However, after BSE closed on April 9, with the low-cost carrier’s shares trading at INR3,631.65 ($43.56), IndiGo’s stock rose to INR3,765.05 ($45.16) as the market opened the following day. The airline’s shares ended the day being priced at INR3,796.55 ($45.54), with a volume of around 64,000 on April 10.
Photo: MBekir | Shutterstock
As a result, the market capitalization of IndiGo, which indicates the total market value of a company’s shares, was INR1.466 trillion ($17.5 billion) once the BSE closed on April 10. Meanwhile, with the airline’s shares ending the day of trading on the NSE being priced at 3,806 ($45.65), its market capitalization on that stock exchange was INR1.469 trillion ($17.6 billion).
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Rising in market capitalization rankings
Due to its latest market capitalization, the Indian carrier edged out Southwest Airlines, which had a market capitalization of $16.7 billion on April 10, with the airline’s share price being $27.96 when the New York Stock Exchange (NYSE) closed for trading on the day. However, the United States-based carrier’s share price has deteriorated in the past months, dipping from $33.78 on March 11 to $28.76 on March 12.
Photo: Rene Dominguez I Shutterstock
The second-largest airline in the world in terms of market capitalization is Delta Air Lines. The carrier’s stock ended the day’s trading at $46.24, with a market capitalization of $29.8 billion on April 10. However, the carrier’s stock began the day of trading at $48.37, meaning that the company’s market capitalization dropped during the day when it announced its Q1 2024 results.
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Ryanair holding firm
Ryanair, the Ireland-based low-cost carrier group, steadily remains the most valuable airline company in the world. The Irish company’s shares are traded on Euronext Dublin, Ireland’s main stock exchange, and the Nasdaq stock market, where the market capitalization differs.
Photo: smspsy | Shutterstock
On Euronext Dublin, where the airline’s share price was €20.61 ($22.11) at the time of writing, Ryanair’s market capitalization was €23.4 billion ($25.1 billion). However, on the Nasdaq, the carrier’s shares closed at $145.86 on April 10, resulting in a market capitalization of $33.2 billion on the US-based stock exchange.
