Why Indigo Share Price Is On The Slump Today

Indigo shares were on the slump on Wednesday after two IndiGo Airbus A321s experienced in-flight shutdowns in one of their Pratt & Whitney (PW) engines, on Tuesday.

What Happened? Per a Times of India report, one plane safely landed in its intended destination, Mumbai, while the other returned to its departure point, Kolkata.

The IndiGo flight bound for Bengaluru from Kolkata had to turn back after one of its engines failed mid-flight. The flight, carrying 223 passengers, had departed at 2.30 pm.

The pilot reported the engine failure by 2.45 pm and requested an emergency landing. Successfully landing on a single engine, the aircraft safely touched down at 3 pm.

The Directorate General of Civil Aviation (DGCA) is now technically evaluating both incidents. IndiGo has grounded these two planes, adding to the approximately 40 of its aircraft already waiting for replacement engines from PW.

Price Action: Interglobe Aviation Ltd. shares were down 1.83% at ₹2,440, roughly an hour and a half after markets opened for trading on Wednesday.

Read next: Why This Akash Bhanshali-Backed Mid Cap Stock Is Rising Today

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Posted In: EquitiesMarketsIndigo