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Centrum Broking Report
Air passenger traffic grew 41.2% month on month in September 2020 and trends in early October (during the long weekend) suggest a renewed propensity for leisure travel.
Fuel costs remain benign and 2% appreciation in Indian rupee vis-a-vis U.S. dollar in Q2 FY21 provides incremental relief.
This, along with Interglobe Aviation Ltd.’s own cost saving measures lowers the threshold traffic to approximately70% of pre-Covid-19 for reaching cash break-even.
IndiGo has gained 12% market share year-to-date FY21 but we factor it will retain only 50-55% of this on sustainable basis.
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