Indian airline secures only place in world's top 10, rest all Chinese
New Delhi, Sep 10: India's biggest carrier IndiGo is the only non-Chinese airline in the list of best-performing airline stocks.
Nine of the world's top 10 airline stocks over the past three months are Chinese, according to an analysis by Bloomberg.
IndiGo is sixth on the list with a 13 per cent gain. The top performer is low-cost carrier Spring Airlines, whose shares have climbed 22 per cent.
The global airline industry has been severely effected by the coronavirus pandemic, as governments imposed unprecedented border restrictions and people also became reluctant to travel.
The International Air Transport Association, which represents some 290 airlines, doesn't expect passenger traffic to recover to pre-pandemic levels before 2024.
Chinese airline carriers managed to recover the loss due the pandemic faster owing to the vast domestic market and the removal of travel curbs as the outbreak in China was brought under control.
The Indigo airline was founded as a private company by Rahul Bhatia of InterGlobe Enterprises and Rakesh Gangwal in 2006 headquartered in Gurugram, Haryana. The airline became the largest Indian carrier by passenger market share in 2012.