IndiGo shares plunge on operational woes, costs; market cap below ₹2 lakh cr.

• IndiGo shares fell 9%, their worst single-day drop since February 2022, pushing market cap below ₹2 lakh crore due to rising operational and cost pressures.
• Brokerages cited increasing aviation turbine fuel prices, a weaker rupee, and new flight duty time limitation (FDTL) norms as key cost drivers.
• The FDTL norms, requiring more pilots, are expected to significantly increase costs and have led to widespread flight cancellations.
• The aviation regulator issued a show cause notice to IndiGo's CEO regarding operational disruptions, granting a 24-hour extension for response.
• IndiGo formed a Crisis Management Group and expects network stabilization by December 10, reporting improved on-time performance and reduced cancellations.

Why It Matters: IndiGo's troubles signal potential air travel disruptions and higher costs.