Coinpaper 2026-03-02 12:32:47

IndiGo Tumbles 6.8% as Middle East Airspace Disruptions Hit Operations

The share price of Interglobe Aviation Ltd (IndiGo) plunged on Monday following the US-Israel attack on Iran that caused massive disruption in air travel worldwide. On Monday, IndiGo dipped to a low of ₹4,500, a significant drop of 6.78% from the previous close of ₹4,827.20. Suspension of International Flights The low cost carrier’s shares tanked following the coordinated US-Israel military strikes called “Operation Epic Fury,” which closed airspaces and set off mass flight cancellations. Indian carriers, including IndiGo and Air India, had to cancel flights as a result of the conflict. In a statement posted on the social media platform X, IndiGo said that it is extending the suspension of select international flights operating through parts of the Middle Eastern airspace as a precautionary measure. The airline said that some of its other international services may also be affected as it aligns with the changing conditions. “We have continued to meticulously evaluate the evolving regional developments and their potential impact on flight operations. After reviewing the latest operational inputs, we are taking the course that we believe is most responsible at this time, purely in the interest of safety.” Losses Due to Flight Cancellations Airlines are facing losses because of the disruptions. IndiGo said that affected passengers may reschedule their flights at no additional cost or opt for a full refund of their tickets. “To support you, we are extending full flexibility and waivers for travel to and from the Middle East, along with other impacted international sectors, until 7th March 2026, for bookings made on or before 28th February 2026,” the airlines said. All flights in and out of Dubai International Airport, the busiest airport in the Middle East and the second-busiest airport in the world by passenger traffic, have been suspended. Sajay Lazar, CEO of Indian aviation consultancy Avialaz Consultants, told CNBC how this impacts Indian carriers. “The Middle East corridor is India’s largest westbound corridor, and this [disruption] will impact Indigo and Air India heavily,” Lazar said.

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