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Good news! Three of IndiGo's grounded Neo VT ITF back in operation

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IndiGo's shares spiked, reaching a new high in the market on Wednesday after the news broke out.

IndiGo's three grounded Neo VT ITFs are now in operation after being grounded for at least 10 days.
IndiGo's shares spiked, reaching a new high in the market on Wednesday after the news broke out.
However, Directorate General of Civil Aviation (DGCA) will review the whole process as far as grounding neos are concerned. In a relief to the airline, the aviation watchdog is not considering to cancel any of the slots given to them.
Pratt & Whitney assured the airline on Tuesday that it will replace all the faulty engines within 40 Days. India’s largest airline, IndiGo, is still bearing the brunt of the faulty engines by cancelling at least 47 flights last week with more such cases being reported regularly.
Earlier this year, The European Aviation Safety Agency issued a warning to airlines across the world pointing at safety issues with Pratt engines which could have been the reason behind the in-flight shutdowns.
With the increasing air traffic, it is almost impossible for flights to make unscheduled cancellations.  Hundreds of passengers were stranded across several Indian cities after the last-minute cancellations.

 

Market Movers

CompanyPriceChng%Chng
ICICI Bank676.65 20.70 3.16
ITC212.40 5.40 2.61
Wipro599.15 14.95 2.56
SBI Life Insura1,050.45 24.45 2.38
SBI428.90 6.85 1.62
CompanyPriceChng%Chng
ICICI Bank676.65 20.85 3.18
ITC212.35 5.30 2.56
SBI429.15 7.15 1.69
HCL Tech994.25 15.65 1.60
Axis Bank755.25 8.75 1.17
CompanyPriceChng%Chng
ICICI Bank676.65 20.70 3.16
ITC212.40 5.40 2.61
Wipro599.15 14.95 2.56
SBI Life Insura1,050.45 24.45 2.38
SBI428.90 6.85 1.62
CompanyPriceChng%Chng
ICICI Bank676.65 20.85 3.18
ITC212.35 5.30 2.56
SBI429.15 7.15 1.69
HCL Tech994.25 15.65 1.60
Axis Bank755.25 8.75 1.17

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CompanyPriceChng%Chng
Dollar-Rupee74.4000-0.0600-0.08
Euro-Rupee87.5450-0.0830-0.09
Pound-Rupee102.3880-0.0780-0.08
Rupee-100 Yen0.6730-0.0030-0.44