Posted 4/12/2024, 4:45:32 PM
IndiGo Soars Past Southwest in Market Value as Investors Bet on Indian Carrier's Growth
- Southwest Airlines has lost its spot as a top 3 airline by market cap to Indian budget airline IndiGo, which is now valued at $17.58B
- IndiGo's stock price has spiked 28% since early 2023 due to strong investor interest in its high growth and profitability
- Breeze Airways had its first profitable month in Dec 2022, unusually quick for a new airline, sparking investor interest
- Spirit Airlines is struggling financially after its planned acquisition by JetBlue was blocked on antitrust grounds
- Spirit has started cost-cutting measures like pilot furloughs and delayed plane deliveries due to its financial uncertainty