Air India, IndiGo plan to resume Qatar flights as Gulf airspace situation improves; IndiGo shares face pressure

As the overall flight situation in the Gulf region continues to improve, Air India and IndiGo are also planning to resume flight operations from Qatar to India soon, the Ministry of External Affairs announced on Monday.

With Qatar airspace partially open, Qatar Airways is already operating flights to various destinations in India, according to a statement issued by the MEA.

Additional flights are now operating from the Middle East, with around 105 flights expected on Monday between the UAE and India as airlines continue to operate limited commercial services from Dubai and Abu Dhabi based on operational and safety considerations.

Flights continue to operate from various airports in Saudi Arabia and Oman to destinations in India. Kuwait airspace is also open, with Jazeera Airways and Kuwait Airways resuming limited operations to India. Bahrain airspace is open as well, with Gulf Air operating flights to multiple Indian destinations.

Besides, Iraq’s airspace is open with limited flight operations that can be used for onward travel to India.

Iran’s airspace is partially open for cargo and chartered flights, but Indian nationals are advised to avoid travelling to Iran, and those already there are urged to leave via land routes with embassy support, the MEA said. So far, the Indian embassy in Tehran has facilitated the movement of 2,445 Indian nationals through land border routes.

Israel’s airspace is also open, with limited flight operations resuming to regional destinations that can be used for travel to India.

Indian missions remain actively engaged with the Indian community, including associations, organisations, professional groups, companies, and other stakeholders. Since February 28, around 12,96,000 passengers have travelled from the region to India.

Indian missions and posts continue to operate round-the-clock helplines and are assisting Indian nationals, while regularly issuing updated advisories on travel, safety, and consular support.

Meanwhile,shares of InterGlobe Aviation Limited, the parent company of IndiGo, opened flat with a negative bias on Monday as global brokerage UBS downgraded the stock and trimmed its price target, citing rising macroeconomic headwinds and sustained pressure on airline profitability.

However, the stock recovered from early losses and was trading at Rs 4,560.50, down by Rs 37.40 or 0.83 per cent during noon trade.

UBS lowered its rating on IndiGo to “neutral” from “buy” and cut its target price to Rs 4,940 from Rs 5,480, flagging concerns over the operating environment for airlines.

The downgrade comes amid geopolitical tensions, particularly the ongoing US-Iran conflict, which has increased volatility in global markets and pushed up energy prices.

The brokerage noted that the aviation sector has been especially impacted, with jet fuel prices nearly doubling in recent months due to supply concerns. However, IndiGo remains relatively better positioned compared to global peers due to its scale and efficiency.

Domestically, government intervention to cap Aviation Turbine Fuel (ATF) price hikes has provided some relief. For April 2026, ATF prices were capped at a 9 per cent increase, significantly lower than the 115 per cent surge seen internationally in March.

In the last five days, IndiGo shares were down by Rs 153.50 or 3.26 per cent. The stock has gained Rs 461 or 11.25 per cent in the last one month. However, over a longer timeframe, returns remain negative, with a decline of Rs 1,274.50 or 21.84 per cent in the last six months and a drop of Rs 550 or 10.76 per cent on a year-to-date basis.

(With inputs from IANS)