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UBS has also moderated its demand assumptions slightly, considering the sustained weakness.
UBS downgraded IndiGo to 'neutral' from 'buy' and cut its price target to ₹4,940.
KEY POINTS
- UBS increased IndiGo's FY27 and FY28 fuel cost assumptions by 28% and 30%, respectively.
- Indian government capped ATF price increases at 9% for April 2026 despite global price spikes.
- UBS cut IndiGo's FY27 and FY28 EPS estimates by 9% and 38% due to cost pressures.
- Preliminary April data shows sequential and annual declines in IndiGo's domestic passenger traffic, signaling demand fatigue.
COMPANIES
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