Morgan Stanley on Indigo
OW, TP Rs 2132
Reported F1Q20 rev up 45%YoY driven by RPK growth & yields
EBITDAR moved up 158%YoY as EBITDAR margins came in at 28.2%
PAT at Rs 12 bn versus our est of Rs 7.2 bn
Co announced guidance of 28%YoY growth in capacity in F2Q20 & 30%YoY growth in capacity in F20
UBS on InterGlobe Aviation
Maintained 'Buy' with target price of Rs 2,000.
Q1FY20 – Strong beat across all metrics.
Yield expansion ahead of expectation, but caution on Q2 yields.
Yields improvement and aggressive international expansion remain key focus.
Keep indigo On your Radar