IndiGo Shares Continue to Tumble as Company Loses ₹37,000 Crore in 7 Days Amid Flight Crisis

IndiGo’s stock continued its downward slide for the eighth consecutive trading session, wiping out nearly ₹37,000 crore in market value. The sharp fall comes amid ongoing operational chaos, including massive flight cancellations and delays that have severely impacted the airline’s reputation. Investors remain cautious as the airline’s parent company faces mounting pressure to stabilize operations and restore market confidence. The stock has now declined for eight consecutive sessions, shedding around 17 per cent over the past seven days.

Several brokerages have turned more cautious, with some cutting target prices as the scale and financial impact of the disruption become clearer. The crisis continued to weigh on sentiment after IndiGo cancelled more than 2,000 domestic and international flights over six days, triggering widespread disruption at major airports. Delhi airport said on Monday that flight schedules remain unstable and urged passengers to check their flight status before travelling.IndiGo has said it expects operations to stabilise by December 10, but market sentiment remains weak as investors assess the financial fallout from prolonged cancellations, higher crew costs and possible regulatory action.The country’s largest airline is grappling with an acute manpower crunch and the transition to revised crew norms, forcing it to cancel more than a thousand flights a day since Tuesday. Meanwhile, SpiceJet shares extended their rally for the third consecutive session on Tuesday, surging over 7% in early trade following the induction of new aircraft into its fleet.

Shares of SpiceJet witnessed strong buying interest in Tuesday's trade, climbing as much as 7.66% to touch an intraday high of Rs 34.99 on the BSE, against a previous close of Rs 32.50. The counter has been on a winning streak, gaining over 15% in the last three sessions. The upbeat sentiment around the stock follows the airline’s ongoing expansion of its operational capacity. In a press release, SpiceJet said it has added two Boeing 737 aircraft to its fleet. The newly inducted aircraft have already entered commercial service, commencing operations on November 26 and 29, respectively. According to the airline, these planes are currently deployed on high-demand routes, including Delhi-Bangkok, Ahmedabad-Dubai and Ahmedabad-Kolkata.

Debojo Maharshi, Chief Business Officer at SpiceJet, said the addition of two Boeing 737 aircraft marks another deliberate step in the airline’s calibrated and responsible capacity expansion strategy. Adding, “Both aircraft have already entered commercial service, and we are confident they will further strengthen our operations." The positive sentiment around SpiceJet stands in sharp contrast to the turbulence engulfing its rival, InterGlobe Aviation. IndiGo’s parent has come under severe pressure amid escalating operational lapses that have rattled India’s aviation ecosystem.