IndiGo Named CAPA Low Cost Airline Of the Year
IndiGo was selected by the judging panel to for its ability to thrive in an extremely challenging market. The judges were particularly impressed by the way IndiGo’s executive team have executed their business strategies.
This award is given to the low cost airline that has been the biggest standout strategically, established itself as a leader, been most innovative, and provided a benchmark for others to follow.
“In less than 10 years IndiGo has grown to become India‘s largest domestic airline with a market share of close to 40%,” Mr Harbison said. “Despite operating in a very challenging market, IndiGo has consistently reported profits for each of the last seven years, including a record profit in FY2015. Over the same period India’s airlines combined have lost in excess of USD10 billion.”
CAPA noted that IndiGo is now in the final stages of preparing for an historic initial public offeringwhich is expected to value the airline at about USD4 billion. IndiGo has established a very positive brand reputation for the quality of its service, clean aircraft, innovative F&B packaging and its efficient operating model with the lowest cancellation rate and best on-time performance among the main Indian carriers. IndiGo’s on-time performance and schedule integrity has been an industry benchmark in India since it launched.
Over the last year IndiGo has maintained stability in a challenging market while all its main competitors have faced a crisis. IndiGo is now attracting significant interest from potential foreign airline investors and global alliances.