IndiGo Shares Drop 3% as Flight Disruptions Force Q3 Guidance Cut

• IndiGo shares fell over 3% after the airline cut its Q3 financial guidance for key metrics.
• The revised guidance follows recent flight disruptions, which led to significant operational issues and financial losses.
• IndiGo now expects lower growth for Average Seat Kilometer (ASK) and a mid-single digit decline for Passenger Unit Revenue Per Available Seat Kilometer (PRASK).
• The airline cancelled approximately 4,500 flights, resulting in revenue loss and additional expenses for passenger support.
• Brokerages have cut IndiGo's price targets but largely maintained a bullish stance on the stock despite the recent issues.

Why It Matters: IndiGo's lowered financial forecast signals potential stock volatility for investors.