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Go First bankruptcy: IndiGo, SpiceJet good momentum plays, say analysts

Apart from IndiGo, Tata group-owned Air India, could be the second key beneficiary given its strong fleet and balance-sheet strength

Nikita Vashisht New Delhi

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4 min read Last Updated : May 03 2023 | 1:00 PM IST

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Wadia Group-owned Go First Airways’ (Go First) insolvency plea could trigger a 'momentum rally' in shares of rival airlines, Interglobe Aviation (parent company of IndiGo) and SpiceJet, as they look to gain bankrupt airline's market share, said analysts.

On the bourses, shares of InterGlobe Aviation hit a 52-week high of Rs 2,235.95, surging 8 per cent on the BSE in Wednesday’s intra-day trade, while those of SpiceJet and Jet Airways rallied 6 per cent (Rs 33.25) and 5 per cent (Rs 60.59), respectively, following the development, which was announced post market hours on Tuesday.

ALSO READ: Go First bankruptcy seen helping rivals, boosting airfares in India