Latest news with #InterGlobe
&w=3840&q=100)
Business Standard
a day ago
- Business
- Business Standard
Ambit sees 20% upside in IndiGo stock as aviation sector gains altitude
InterGlobe aviation share price today: India's aviation sector has not been on the best ground lately, owing to sectoral headwinds and liquidity challenges resulting from the capital-intensive nature of the sector. However, with the government's rising focus on airport infrastructure, favourable demand-supply dynamics and a robust order book, the old playbook of India's aviation industry might change. Ambit has initiated coverage on InterGlobe Aviation (IndiGo) with a double-digit upside estimated and a 'Buy' rating. Strong upside for InterGlobe Aviation Ambit has initiated coverage on InterGlobe Aviation with a 'Buy' rating, with the target price of ₹7,000 from the current market price (CMP) of ₹5,840. This implies a robust double-digit upside of 20 per cent. So far this calendar year, the shares of the aviation firm have experienced a strong rise of over 30 per cent. "Increasing codeshare agreements and a strong network put IndiGo in sweet spot to capture growing share of inbound/outbound traffic. IndiGo is strategically expanding into underserved Asian markets by launching routes to less-frequented destinations like Almaty, Baku, Tashkent, Tbilisi, Jakarta and Nairobi, aiming to capture growing demand in areas with minimal competition," the brokerage noted. The airline is planning to invest heavily in aerospace parts by utilising cash effectively. On top of this, InterGlobe (IndiGo) is also making a switch from low-cost carrier (LCC) to a hybrid model by launching a premium offering on select routes. Both of these factors have prompted the brokerage firm to take a bullish outlook on IndiGo and its ability to maintain the market share. Aviation sector outlook For India's aviation sector, as a whole, data figures paint an optimistic image. Between financial year 2013-14 (FY14) and FY24, domestic passenger traffic in India grew at a compound annual growth rate (CAGR) of 9.7 per cent, outpacing international passenger traffic, which saw a 4.5 per cent CAGR. In FY24, the passenger load factor hit a decadal high of 88 per cent, surpassing pre-covid levels. That apart, domestic carriers currently hold a record-high aircraft order book of over 2,000 planes, accounting for 14 per cent of the global order books of Airbus and Boeing. With the number of airports projected to rise to 300–350 by 2047, India's aviation sector is poised for an unprecedented phase of expansion, according to the brokerage firm Track Stock Market LIVE Updates GIFT City to fuel growth Despite strong growth prospects, India's aviation industry continues to favour the LCC model. This is mainly due to the country's price-sensitive market. While two full-service carriers (FSCs), Kingfisher and Jet Airways, once had a presence, it's been over a decade since they exited the market owing to intensified competition from LCCs. Meanwhile, the largest remaining FSC, Air India, has since been privatised and Vistara has now merged with it. Keeping in view the high capital-intensive structure of the aviation industry, leasing becomes a key strategy for airlines. At the global front, Ireland and China are already among the leading players when it comes to aircraft leasing. As for India, the nation is building its very own leasing hub within the GIFT City International Financial Services Centre (IFSC). A domestic leasing ecosystem gives airlines better control over lease terms, reduces forex risk and supports growth in both aviation and MRO sectors. Also, not ignoring the job prospects. That said, the momentum is already quite visible in figures. As of January 2025, 33 lessors had registered at GIFT IFSC, enabling the lease of over 60 aircraft, including jets, helicopters and engines. Watching the China playbook India and China, having the tag of largest population size, are among the top domestic aviation markets in the world (just behind the US). While China's aviation industry is much larger and mature as compared to that of India, Ambit believes that India's low per capita trip rate leaves room for higher growth prospects in the sector. "By accelerating infrastructure, expanding fleets, reducing costs, boosting international routes, developing talent and adopting technology, India can close the gap, potentially matching China's passenger volume by the next decade. Sustained execution and economic growth are critical to rival China's scale," the brokerage firm said.
&w=3840&q=100)
Business Standard
a day ago
- Business
- Business Standard
Ambit bullish on InterGlobe as India's aviation sector gains altitude
InterGlobe aviation share price today: India's aviation sector has not been on the best ground lately, owing to sectoral headwinds and liquidity challenges resulting from the capital-intensive nature of the sector. However, with the government's rising focus on airport infrastructure, favourable demand-supply dynamics and a robust order book, the old playbook of India's aviation industry might change. Ambit has initiated coverage on InterGlobe Aviation (IndiGo) with a double-digit upside estimated and a 'Buy' rating. The aviation firm is planning to invest heavily in aerospace parts by utilising cash effectively. On top of this, InterGlobe (IndiGo) is also making a switch from low-cost carrier (LCC) to a hybrid model by launching a premium offering on select routes. Both of these factors have prompted the brokerage firm to take a bullish outlook on IndiGo and its ability to maintain the market share. For India's aviation sector, as a whole, data figures paint an optimistic image. Between financial year 2013-14 (FY14) and FY24, domestic passenger traffic in India grew at a compound annual growth rate (CAGR) of 9.7 per cent, outpacing international passenger traffic, which saw a 4.5 per cent CAGR. In FY24, the passenger load factor hit a decadal high of 88 per cent, surpassing pre-covid levels. That apart, domestic carriers currently hold a record-high aircraft order book of over 2,000 planes, accounting for 14 per cent of the global order books of Airbus and Boeing. With the number of airports projected to rise to 300–350 by 2047, India's aviation sector is poised for an unprecedented phase of expansion, according to the brokerage firm Track Stock Market LIVE Updates Gift City to fuel growth Despite strong growth prospects, India's aviation industry continues to favour the LCC model. This is mainly due to the country's price-sensitive market. While two full-service carriers (FSCs), Kingfisher and Jet Airways, once had a presence, it's been over a decade since they exited the market owing to intensified competition from LCCs. Meanwhile, the largest remaining FSC, Air India, has since been privatised and Vistara has now merged with it. Keeping in view the high capital-intensive structure of the aviation industry, leasing becomes a key strategy for airlines. At the global front, Ireland and China are already among the leading players when it comes to aircraft leasing. As for India, the nation is building its very own leasing hub within the GIFT City International Financial Services Centre (IFSC). A domestic leasing ecosystem gives airlines better control over lease terms, reduces forex risk and supports growth in both aviation and MRO sectors. Also, not ignoring the job prospects. That said, the momentum is already quite visible in figures. As of January 2025, 33 lessors had registered at GIFT IFSC, enabling the lease of over 60 aircraft, including jets, helicopters and engines. Watching the China playbook India and China, having the tag of largest population size, are among the top domestic aviation markets in the world (just behind the US). While China's aviation industry is much larger and mature as compared to that of India, Ambit believes that India's low per capita trip rate leaves room for higher growth prospects in the sector. "By accelerating infrastructure, expanding fleets, reducing costs, boosting international routes, developing talent and adopting technology, India can close the gap, potentially matching China's passenger volume by the next decade. Sustained execution and economic growth are critical to rival China's scale," the brokerage firm said. Strong upside on InterGlobe Aviation Ambit has initiated coverage on InterGlobe Aviation with a 'Buy' rating, with the target price of ₹7,000 from the current market price (CMP) of ₹5,840. This implies a robust double-digit upside of 20 per cent. So far this calendar year, the shares of the aviation firm have experienced a strong rise of over 30 per cent. "Increasing codeshare agreements and a strong network put IndiGo in sweet spot to capture growing share of inbound/outbound traffic. IndiGo is strategically expanding into underserved Asian markets by launching routes to less-frequented destinations like Almaty, Baku, Tashkent, Tbilisi, Jakarta and Nairobi, aiming to capture growing demand in areas with minimal competition," the brokerage noted.
Forbes
06-07-2025
- Business
- Forbes
New Miiro Lifestyle Hotel Brand Expands Further In Europe
Volta Bar at Miiro Borneta in Barcelona James McDonald Miiro Hotels, a new lifestyle hotel brand launched last year by InterGlobe Enterprises UK, part of the largest aviation (IndiGo Airlines) and hospitality conglomerate in India, continues to roll out new hotels across Europe in its first full year of operation. Two properties debuted in the tourist hot spots of Paris and Barcelona last year with London opening earlier this year. The fast trajectory of the Indian-based company has been helped by picking up an existing hospitality brand, K+K Hotels, which gives it immediate entry into some of the top markets in the region. A guest room with terrace at La Borneta, Miiro's hotel in Barcelona Miiro The brand name 'miro' is Latin for 'I wonder;' and the idea behind adding the second 'i,' say executives, is for people to pause a bit to 'savor the moment.' In designing the brand, they considered more than 200 names before settling on one that seemed right for what it was trying to create. InterGlobe's strategy is to diversify beyond its Indian interests, and growing quickly in Europe is part of that growth. Neena Gupta, CEO of Miiro Hotels and executive director of group strategy and international hospitality at InterGlobe, leads the brand and was recently awarded with the 'Up-and-Coming Hotelier Award' at an industry-wide event. Miiro Templeton Garden in London James McDonald But, is Europe already too saturated with boutique hotel brands? Charanjit Singh, a hospitality expert and executive of WB Hotels & Resorts, doesn't think so although he says there are both opportunities and challenges for new entrants. He says that while occupancy and room revenue rates can vary wildly in Europe, the major capitals and large cities (exactly where Miiro is opening most hotels) are 'defying global averages.' Latest openings The lobby lounge of Le Grand Hôtel Cayré in Paris Miiro Many of the properties are in historic buildings like Le Grand Hôtel Cayré, once known as the Hôtel Cayré, which has hosted some of Paris' top visiting artists, writers and philosophers. Barcelona's Hotel Borneta was the second property to open in the portfolio across from one of the city's famed parks, La Ciutadella. Its rooftop terrace has a cocktail bar, menu, plunge pool and panoramic views of the city. Miiro opened its first Swiss hotel in Gstaad, The Mansard, which will stay open year-round, is the only hotel that is not part of the K+K brand. It is in a prime location overlooking the ski town's main street and close to popular art boutiques and restaurants. Miiro Templeton Garden in London James McDonald Templeton Garden in London is another that has opened in a former K+K property (and also in a neighborhood known for being home to legendary writers like Agatha Christie, Beatrix Potter and Alfred Hitchcock). This literary theme weaves its way throughout the property, which has a large garden surrounded by tall trees and flowers where guests can enjoy ordering from the restaurant and bar's menu. Currently, there are four properties in the portfolio with two more in Vienna on the way by next year. Potential destinations for new hotels include Florence, Madrid, Milan, Hamburg and Budapest. The lobby of the new Gstaad, Switzerland hotel Miiro Projections for hospitality are expected to grow from $4.7 trillion to $5.8 trillion by 2027, notes Singh. He also notes that part of the growth is from 'mid‑to‑high‑income millennials and Gen Z, who seek smaller, eco-conscious, and culturally rooted stays.' According to Reuters, this growth for boutique brands is particularly key in cities like Barcelona where regulators are pushing back against short-term rentals like Airbnb amid local protests and 'steering tourists toward higher-end, more controlled hospitality offerings.' Doing some things differently The library at Miiro London, Templeton Garden Miiro This differentiation is where Singh believes brands like Miiro can most stand out, saying 'in crowded boutique markets, differentiation in design, community integration, and service innovation is vital.' The building's history and neighborhood storytelling can help drive demand, despite boutique hotels growing in number. Singh says Miiro can call upon its parent company's 'airline and tour experience to drive cross‑border guests' and success. Every Miiro property has a 'refresh room' that is open to guests to freshen up, even without an available room being ready yet. While these are common in numerous resorts in tropical destinations, many city hotels do not often carve out the real estate for something that does not earn a nightly rate. The Refresh Room concept allows early arrivals or late departures to have access to a changing room, shower and bathroom (that is separate from the gym or spa) while they wait for their room to be ready or a late-evening departure. Volta is the dining room at Miiro Borneta in Barcelona. Facundo Ruiz Many of their restaurants also give the chef 'carte blanche' to prepare tasting menus that are different day to day based on what is fresh or has been sourced locally. This is nothing new, but when the menu changes each day and you don't know what to expect, as it does at Hotel Borneta in Barcelona, it raises the bar. Miiro hotels also have small libraries or reading rooms where travelers (and locals) can relax with a book from a regional author. And in the rooms themselves, things are different. Special collaborations with local artists or journalists have added a lot of regional influence to the rooms. Le Suite du Collectionneur at Miiro's Paris hotel Miiro For example, Le Suite du Collectionneur at Miiro's Paris hotel is an immersive, art-filled suite complete with custom furnishings and art pieces chosen by a local artist and available for purchase. In London's Templeton Garden hotel, Vogue columnist Raven Smith curated the hotel's eclectic library that represents many of the famous authors that lived in the neighborhood. Art talks, guided walks and weekly wine tastings are standard at many hotels. These are part of what Singh calls best practices for boutique hotels to seek community engagement. In a trend that many design-focused hotels now follow, all have public spaces that are open to non-guests to come in and work on a laptop or hold a small meeting. It's part of Miiro's focus to integrate more closely with the community. The library lounge and cafe, open to the public, of Miiro Borneta in Barcelona James McDonald While the hotel brand does not have a formal loyalty program, it is studying one. For now, it has 'Dots,' which is what it calls a 'community of curious travelers, creative locals, and cultural insiders' that can benefit from future-stay and dining discounts plus early-access invitations to new openings and insider events. Selective locations and differentiation are key to success for boutique hotels, adds Singh, and the appetite for this type of hotel, especially in cities where home sharing is becoming more difficulty, continues to grow. MORE FROM FORBES Forbes Yotelpad Goes Global With First Hotel In Europe And Sets Sights On Asia By Ramsey Qubein Forbes 15 Places In Spain You Don't Want To Skip Out On By Ramsey Qubein Forbes 5 Ways Andaz Celebrates Youthful Luxury Through Individuality And Local Culture By Ramsey Qubein
Skift
05-07-2025
- Business
- Skift
Onboard IndiGo's Long-Haul Debut: The Start of a Global Ramp-Up
IndiGo is making a bold pivot from budget regional dominance to global player. Its 'fit-for-purpose' approach may not rival full-service carriers yet, but its pricing and partnerships could redefine value on Indo-Europe routes. Earlier this week, IndiGo turned a new page in its almost 19-year history. On July 1, its first long-haul flight established connectivity between Mumbai and Manchester. The next day, it touched down in continental Europe, flying from Mumbai to Amsterdam for the first time. The carrier will now operate on alternate days between the two routes, three times weekly. Don't be fooled by the modest start – something much bigger is in the works. IndiGo has been plotting global dominance for some time. Rahul Bhatia – CEO of parent company InterGlobe – brought former KLM chief Pieter Elbers on board in 2022. The brief was to lead the organization in its shift from a domestic and regional carrier to a true long-haul operator. The airline has ordered more than 60 Airbus A321 XLR aircraft, which are scheduled to join the fleet later this year. It also ordered 30 widebody A350-900s in 2024, later doubling the order to 60 jets. But these plans go beyond planes. Last year, the airline launched a series of initiatives including a loyalty program and a domestic business class product. IndiGo has also confirmed that the upcoming XLRs will have 12 factory-fitted business class seats on board. Already India's largest airline, IndiGo was not going to wait for 2027 to enter its widebody long-haul flying era. The carrier gained familiarization with larger aircraft through a leasing deal with Turkish Airlines. The Boeing 777s have a dense configuration with just seven business class seats and an incredible 531 economy class seats. IndiGo has now contracted Norse Atlantic Airways to wet-lease six of their Boeing 787-9 aircraft for up to 18 months. The first arrived in February and was flown on the busy route between Delhi and Bangkok for three months. As of this week, the aircraft are being put to better use on European services. Shaking off its No Frills Roots With the introduction of Dreamliner jets, IndiGo comes closer to a full-service airline. It is offering a new product and service offerings on these intercontinental flights, which are a taste of what passengers can expect when the A350s arrive. Elbers has been vocal that the onboard product needs to be 'fit-for-purpose' and not just a copy of whatever already exists. This was apparent at the launch of the domestic IndiGo Stretch product, where the airline offers no lounge access or hot meals, which it feels are unnecessary for short-haul flights. IndiGo now has a different mindset at play. Still anchored in its 'fit-for-purpose' mentality, the airline decided to offer hot meals on board its new long-haul flights. The airline is also integrating with Delta, Virgin Atlantic, and Air France-KLM to offer easy transfers in the UK and the Netherlands. The goal is to provide passengers with straightforward connections into the U.S. and around Europe. A comprehensive codeshare deal is expected to go live shortly. More Perks Than Expected? The generous nature of its 'value-for-money' IndiGo Stretch product has surprised some. The Norse Atlantic aircraft only have recliner seats, but these come with a generous seat pitch. In practice, this allows IndiGo to offer something closer to business class, albeit without the lie-flat beds. The airline has 56 seats in the 787's Stretch cabin. IndiGo's premium cabin on the leased Boeing 787. credit: ajay awtaney IndiGo is also offering lounge access at both ends of the route – unusual for a carrier known for strict cost control, these upgrades signal a willingness to compete on comfort as well as price. Premium customers also have a large baggage allowance that mirrors legacy business class, and over 200 hours of in-flight entertainment. There are five meal choices (two international, two Indian, and one vegan) for Stretch customers, and unlimited beverages (including alcohol). Elbers confirmed that the airline won't be offering champagne and caviar, but the airline's catering, outsourced to Oberoi Flight Services, clearly punches above its weight. Elsewhere, there are no amenity kits, but there is an 'amenities basket', which features dental kits and compression socks. A plush pillow, with a map of the globe and a blue dot marking IndiGo's headquarters in Delhi NCR, is also available for Stretch passengers. IndiGo's long-haul premium product offers a range of legacy-style perks. credit: Ajay Awtaney In a nod to Elbers' KLM days, the airline is also offering warm overlays that it allows passengers to take away with them and reuse. There are 18 designs available, with customers encouraged to collect them all, just like KLM does with ceramic Delft houses. Further back on the aircraft, IndiGo is offering economy passengers two hot meals. Alcoholic drinks and the overlays are available for purchase. The airline is currently pricing its European flights around 30% cheaper than comparable one-stop options via the Middle East. There is no direct competition on the Mumbai to Manchester route, but KLM operates to Amsterdam. What's Ahead: U.S. Routes and A350 Intrigue When asked if this was the final product definition that would be mirrored on the new A350s, Elbers insisted this was not the case. He declined to elaborate further, but it leaves open the possibility that IndiGo may consider a three-cabin setup, with economy, premium economy, and business class. IndiGo representatives onboard the inaugural flight suggested to Skift that the airline will eventually look beyond Europe and is considering flights to the United States. Occupancy was low on the first flights, but IndiGo is not so worried. It knows that a new route can take time to warm up, especially since travel to Europe usually involves visas. The airline has already confirmed that bookings look stronger in the coming weeks, and as it plugs into its strategic tie-up with transatlantic partners such as Delta and KLM, a further lift is expected. While IndiGo's initial European routes do not directly challenge Air India's network, it remains to be seen how many people will switch from a legacy full-service product to a slightly lesser offering, in exchange for lower fares. Air India operates flights between Delhi (rather than Mumbai) and Amsterdam with the Boeing 787. However, this aircraft has seen its issues with common reports of non-functioning entertainment screens and an outdated cabin. As is customary for a legacy carrier, Air India offers a full package of meals and comfortable seats, but it doesn't offer the low fares found at IndiGo. It remains to be seen how the Middle Eastern carriers will react to the entry of IndiGo, and if the ambitious Indian operator will be able to chip away traffic as its network ramps up. Watch Pieter Elbers at the Skift India Forum 2025: recorded march 2025. What am I looking at? The performance of airline sector stocks within the ST200. The index includes companies publicly traded across global markets including network carriers, low-cost carriers, and other related companies. The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more airlines sector financial performance. Read the full methodology behind the Skift Travel 200.
&w=3840&q=100)
Business Standard
26-06-2025
- Business
- Business Standard
Nifty200 Momentum 30 Index to see around 20 changes in June 27 reshuffle
Analysts estimate Rs 16,000 crore in trade from the rebalancing as InterGlobe, HDFC Bank and others gain while M&M and Tech Mahindra face passive outflows Samie Modak Mumbai Listen to This Article The Nifty200 Momentum 30 Index is set for a significant overhaul on Friday, with as many as 20 of its components expected to be replaced. Analysts predict that the rebalancing will generate trade worth Rs 16,000 crore. Several companies, including InterGlobe Aviation (InterGlobe), HDFC Bank, and Kotak Mahindra Bank, could see inflows of nearly Rs 600 crore. Conversely, Mahindra & Mahindra (M&M), Eternal, and Tech Mahindra are expected to face passive selling in excess of Rs 550 crore, according to an analysis by Brian Freitas of Periscope Analytics, published on Smartkarma. 'Based on the expected changes to the index and
