Air Freight News

Indian airport bonds drop to 3-month lows on airline cutbacks

The bonds of Indian airport operators dropped to their lowest since October, as a surge in Covid-19 cases dents demand for air travel.

The 6.45% 2029 note issued by Delhi International Airport declined to its lowest level since Oct. 12 on Tuesday, while a 4.75% 2026 issue of GMR Hyderabad International Airport fell to its least since Oct. 14.

Both Vistara, a joint venture between Tata Sons and Singapore Airlines, and Indigo, the country’s biggest budget carrier, have cut capacity in response to a surging case load and travel restrictions.

India’s federal government has also announced a tighter quarantine regime for international travelers.

Bloomberg
Bloomberg

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© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).

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