Supply prospects, increase in fuel prices to limit the differences; Adverse risk-return: ICICI Securities

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Rising brent prices and the absence of a major structural reduction in capacity could limit the spreads of InterGlobe Aviation Ltd. to Rs 0.34 in fiscal year 23, according to our estimates.

Our differences include amortization and interest expense.

The entry of new players, the delay in resuming international travel, the longer absence of high-yield business travel and the low cash balance do not justify an increase in multiples for IndiGo.

Our profit decline is due to the rise in Brent crude prices of $ 65 / bbl of oil during FY23 compared to $ 60 / bbl of oil earlier and current Brent crude prices of $ 78 / bbl. of oil.

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