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<ul><li>A global <keyword id="1571551" type="General" weightage="100" keywordseo="Microsoft-outage" source="Orion">Microsoft outage</keyword> has impacted airlines, banks and other services.</li><li>The outage has resulted in disruption of flights from Indigo, SpiceJet and other airlines.</li><li>Here’s everything we know so far about the <keyword id="10387" type="General" weightage="20" keywordseo="microsoft" source="Orion">Microsoft</keyword> outage.</li></ul> In what is emerging as one of the biggest tech outages, Microsoft’s services across the world have been impacted by Blue Screen of Death (BSOD) errors. This has impacted the London Stock Exchange, halted banking services, and grounded several airlines such as Indigo, SpiceJet, and more. The global outage has affected various Microsoft services such as Azure, Microsoft 365 and more. Amazon Web Services has also recorded some reports of outages. “We're investigating an issue impacting users ability to access various Microsoft 365 apps and services,” Microsoft said in a statement. "Crowdstrike is actively working with customers impacted by a defect found in a single content update for Windows hosts. Mac and Linux hosts are not impacted. This is not a security incident or cyberattack. The issue has been identified, isolated and a fix has been deployed,” said George Kurtz, CEO, Crowdstrike. <div type="twitter" handle="IndiGo6E" handlename="IndiGo6E" favoritecount="0" retweetcount="0" id="1814200437756641734"></div> <div type="twitter" handle="flyspicejet" handlename="flyspicejet" favoritecount="0" retweetcount="0" id="1814194223052144749"></div> Air India has issued an advisory on X, saying “Our digital systems have been impacted temporarily due to the current Microsoft outage resulting in delays. We regret the inconvenience caused and request our guests to plan their travel accordingly.” The London Stock Exchange on Friday said that its news services were experiencing a global technical issue which prevented news from being published on its platform. The stock exchange was also experiencing technical problems publishing its spot and forward prices for currencies. A traveller in Hyderabad, flying through Indio posted on X that he had received a hand-written boarding pass. <div type="twitter" handle="akothari" handlename="akothari" favoritecount="0" retweetcount="0" id="181420206853155266"></div> Delhi Airport, in a post on X, said that some of the services at the airport were impacted due to the outage. <div type="twitter" handle="DelhiAirport" handlename="DelhiAirport" favoritecount="0" retweetcount="0" id="1814203660186120407"></div> According to reports, a faulty update from CrowdStrike, a cybersecurity provider is forcing affected PCs and servers offline, resulting in a recovery boot loop. “We have widespread reports of BSODs on Windows hosts, occurring on multiple sensor versions,” CrowdStrike said in a support page. "We are aware of issue affecting a subset of customers. We acknowledge the impact this can have on customers, and we are working to restore services for those still experiencing disruptions as quickly as possible,” Mic UK broadcaster Sky News was unable to broadcast, forcing it off the air. American low-cost airline Frontier has cancelled some flights in the US due to the outage. Ryanair, a major European airline reported “third-party” IT issues, which were impacting its flight departures. Microsoft revealed that the outage started around 6 pm ET on Thursday, with some of its customers experiencing issues with Azure services in the Central US. Frontier on Thursday cancelled 147 flights and delayed 212 flights. Berlin airport has warned users of travel delays due to “technical issues.” It’s not just business, several 911 emergency call centres in Alaska have also reported an outage. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/wazirx-suspends-withdrawals-after-230-million-worth-of-cryptos-stolen-in-a-hack/articleshow/111853401.cms">WazirX suspends withdrawals after $230 million worth of cryptos stolen in a hack</a> <a href="https://www.businessinsider.in/tech/mobile/news/honor-200-and-honor-200-pro-launched-in-india-starting-at-34999/articleshow/111830855.cms">Honor 200 and Honor 200 Pro launched in India starting at ₹34,999</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-prime-day-2024-to-begin-on-july-20-in-india-everything-you-need-to-know-about-amazons-biggest-sale/articleshow/111838068.cms">Amazon Prime Day 2024 to begin on July 20 in India – everything you need to know about Amazon’s biggest sale</a>

Microsoft outage – London Stock Exchange, banks and airlines across the world affected

<ul class="summary-list"><li>Americans' net worth hit a record $163.8 trillion in Q2, driven by a surge in real estate and stock prices.</li><li>Data from the Federal Reserve shows a nearly 2% increase In net worth from Q1, with real estate leading the gains.</li></ul>New data from the Federal Reserve reveals that Americans are the richest they've ever been.Americans had a cumulative net worth of $163.8 trillion at the end of the second quarter, according to the Fed's latest <a target="_blank" class="" href="https://www.federalreserve.gov/releases/z1/20240912/z1.pdf">Financial Accounts of the United States report</a> released on Thursday.The record high in Americans' net worth last quarter increased nearly 2% from the first quarter reading of $161 trillion, with the gains driven mostly by continued price appreciation in the US real estate market.A $1.8 trillion increase in real estate valued and a $700 billion gain in stocks drove the increase.The stock market hit a record high in June, as did the S&amp;P CoreLogic Case-Shiller U.S. National Home Price Index.Along with the net worth increase, household debt jumped almost 1% from the first quarter to $20.2 trillion, while cash and cash-like security holdings dropped slightly to $18.44 trillion.Overall, the data paints a healthy financial picture for the US consumer, who is flush with cash and has plenty of exposure to rising-value assets.It's one reason the US economy has been so resilient even in the face of the Fed's aggressive interest-rate hikes over the past two years.Economist David Rosenberg said in a note last month that July's strong spending data was likely buoyed by the "wealth effect," which is the idea that when a consumer sees their net worth rise, they feel confident to spend more money, and vice versa.The <a target="_blank" class="" href="https://markets.businessinsider.com/news/interestrates/u-s-retail-sales-jump-much-more-than-expected-in-july-1033694732">strong July retail sales data</a> was "very likely the product of the "wealth effect" which has kept the high-end consumer chugging right along," Rosenberg said.It's not just rising net worths that are boosting US consumers, but also rising wages.Data from the Census Bureau <a target="_blank" class="" href="https://www2.census.gov/library/publications/2024/demo/p60-282.pdf">released earlier this week</a> shows the median US household income rose 4% in 2023 to a record high of $80,610.The sharp rise represented the largest annual jump in inflation-adjusted income since 2019.Altogether, the US consumer seems to be doing more than fine based on the latest economic data.

Americans are the richest they've ever been thanks to soaring real estate and stock prices

<ul class="summary-list"><li>US stocks nosedived on Thursday after several discouraging economic data points.</li><li>Jobless claims soared past estimates to the highest level seen in nearly a year.</li></ul>US stock indexes saw a deep sell-off on Thursday as a combination of rising unemployment and slowing economic indicators weighed on markets.In the labor market, new data showed jobless claims came in at 249,000 for last week, above estimates of 236,000. That number marks the highest level in nearly a year and is another signal to the Fed that rate cuts are needed soon.Investors are pricing in a 100% chance of Fed rate cuts in September, according to the<a target="_blank" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html"> CME FedWatch tool</a>. During an FOMC meeting on Wednesday, Fed Chair Jerome Powell suggested the Fed would be "data dependent, but not data-point dependent" in making the decision to cut rates.Meanwhile, new data shows ISM manufacturing slid further into contraction territory in July. The ISM manufacturing index dropped from 48.5% in June to 46.8% in July—an eight-month low—showing that U.S. factories are still in a downturn.Further data shows construction spending unexpectedly declined in June, falling 0.3% to $2.15 trillion. Economists had predicted a 0.2% rise, according to a poll by Reuters.The fall comes as single-family home construction slowed due to higher mortgage rates.The market reaction shows investor optimism over the prospect of a September rate cut — and potentially <a target="_blank" class="" href="https://www.businessinsider.com/us-economy-slowdown-signal-flashed-interest-rate-cuts-accelerate-fed-2024-8">more aggressive cuts</a> than are currently being expected — is being outweighed by negative economic developments.Here's where US indexes stood at the 4 p.m. closing bell on Wednesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,446.68, down 1.4%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 40,347.97, down 1.2% (495 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,194.14, down 2.3%</li></ul>Here's what else happened today:<ul><li>Moderna's stock<a target="_blank" href="https://markets.businessinsider.com/news/stocks/moderna-stock-price-crash-covid19-shots-european-demand-2024-8"> tumbled as much as 21%</a> after posting a disappointing sales slump as demand for its Covid-19 vaccine slows.</li><li>Jensen Huang just got <a target="_blank" href="https://markets.businessinsider.com/news/stocks/jensen-huang-fortune-soars-after-record-day-nvidia-stock-price-2024-8">$12 billion richer</a> in a single day as Nvidia's stock soared on Wednesday.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, fell 0.8% to $80.05 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> rose 0.6% to $2,441.80 per ounce.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> slipped 1.9% to $63,324.32.</li></ul>

Stock market today: Indexes tank as data paints a negative picture for the economy

Imagine waking up to a sunlit morning, where the sky is painted with vibrant hues of blue and the air feels crisp and invigorating. For some, this might be the perfect weather to go for a refreshing walk or plan a picnic in the park; for others, it could be a nudge towards making riskier financial decisions! No, really. New research by the University of South Australia has unearthed a fascinating connection — one which links pleasant weather to higher investment in lottery-like stocks. Its findings shed light on how sunny skies and clear weather conditions significantly influence investors to engage more in high-risk investments. <cmsannotation type="cmsannotation" annotationid="The sunny side of investing" comment="subhead" text="The sunny side of investing">The sunny side of investing</cmsannotation> This study was conducted by Dr Bradrania, Senior Lecturer of Finance and a member of UniSA's Center for Markets, Values and Inclusion, alongside PhD student Ya Gao. Together, they meticulously analysed 36 years' worth of weather data, including hourly sky cloud cover, wind speed, rain depth and air temperature from major weather stations across US cities. They also examined price data of common stocks from this extensive period, ranging from 1983 to 2019. Their findings indicate that on days with favourable weather, investors are more prone to be risk-taking and optimistic, leading to increased investment in lottery-like stocks. This surge in demand drives the prices of these stocks higher initially, but their prices eventually adjust, often resulting in significant losses for investors. Such lottery-like stocks are typically inexpensive compared to other stocks and are perceived as opportunities for substantial gains, much like lottery tickets. However, the likelihood of a high return is minimal, categorising them as high-risk investments. Given that a good mood can encourage risk-taking behaviour, the researchers sought to find if weather conditions are linked to the demand for these <keyword id="21956496" type="General" weightage="20" keywordseo="high-risk-stocks" source="keywords">high-risk stocks</keyword>, and they did — a finding that could have significant implications for financial markets. “Over-optimism is associated with overconfidence in many cases and investors who are overconfident tend to trade lottery-like stocks more. The research suggests weather relates to gambling preference and influences our judgement and choices. It also provides some guidance on investment decisions depending on weather conditions,” Dr. Bradrania said. <cmsannotation type="cmsannotation" annotationid="The curious link between weather and human behaviour" comment="subhead" text="The curious link between weather and human behaviour">The curious link between weather and human behaviour</cmsannotation> Studies in psychology have delved into the profound impact of weather on human emotions and behaviour, suggesting that it can explain around 40% of our daily mood fluctuations. Sunshine, in particular, can have a huge impact on how we feel, Dr. Reza Bradrania adds. Previous research has even underscored the broader implications of weather patterns on financial markets, indicating a tendency for stock prices to rise on sunny days and dip during cloudier periods. Weather dynamics play a pivotal role in shaping consumer spending habits as well, notably leading to increased sales during warmer weather, particularly in sports equipment and apparel sectors. Moreover, seasonal transitions have been found to wield considerable influence over our emotional state — a phenomenon well-documented in <keyword id="19978647" type="General" weightage="20" keywordseo="seasonal-affective-disorder" source="keywords">Seasonal Affective Disorder</keyword> (SAD). This condition manifests as recurring episodes of depression, typically coinciding with the onset of a fall and persisting through the winter months. The diminished sunlight during these seasons disrupts the body's natural rhythm, contributing to feelings of melancholy and lethargy. From affecting our emotional well-being to our financial situation, weather can have a significant impact on humans, often in ways that might not be immediately obvious to us. Therefore, being aware of these subtle effects could go a long way in helping us make well-informed decisions and navigate daily challenges effectively. The research is published in the Journal of Behavioral and Experimental Finance and can be accessed <a href="https://linkinghub.elsevier.com/retrieve/pii/S221463502400025X">here</a>.

Blue skies, bold investments: Pleasant weather drives investors to buy more high-risk stocks, study finds

<ul class="summary-list"><li>The US election showed shades of the meme stock mania of early 2021.</li><li>Elon Musk and Mark Cuban featured both times, traders bet big, and young men played key roles.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> and Mark Cuban trumpet their picks and excite their followers on social media. Amateur traders scramble to place speculative bets. Disaffected young men post memes to rally support for their revolution against the elites.That may sound like a description of the frenzied days leading up to the <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-election-win-analysis-harris-immigration-abortion-economy-musk-2024-11">US presidential election</a> this week. It could also describe the meme stock craze of early 2021.The two events have striking similarities. Both featured celebrity billionaires championing their favorites. Musk <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/gamestop-stock-price-elon-musk-gamestonk-tweet-extends-trading-rally-2021-1">tweeted</a> "GameStonk!!" at the height of the short squeeze on GameStop stock in January 2021, then <a target="_blank" class="" href="https://markets.businessinsider.com/currencies/news/dogecoin-price-elon-musk-twitter-cryptocurrency-market-trading-reddit-doge-2021-2">posted</a> "Dogecoin is the people's crypto" a few days later, causing both assets to spike in price. In September of this year, the Tesla CEO <a target="_blank" class="" href="https://www.businessinsider.com/musk-donated-million-ron-desantis-changed-tack-bet-on-trump-2024-10">posted</a> on X: "Unless Trump is elected, America will fall to tyranny."Similarly, in February 2021, Cuban <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-thanks-wallstreetbets-advises-hold-gamestop-stock-robinhood-reddit-2021-2">thanked</a> members of Reddit's WallStreetBets forum for "changing the game" and "taking on Wall Street." Two months later, the "Shark Tank" star tweeted that dogecoin was the "one coin that people actually use for transactions."Cuban <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-kamala-harris-donald-trump-economic-plans-2024-8">threw his weight behind</a> Kamala Harris going into the election, praising the Democratic candidate and criticizing Trump in several since-deleted X posts."It's certainly got hallmarks of the kind of vibes-based, personality-based cultish side," Neil Wilson, the chief market analyst at Finalto, told Business Insider about the election conversation this year.<h2 id="7d9e95dc-2060-4569-ac60-cb58c6e78915">Trading frenzy</h2>Retail traders bet big on both occasions. They <a target="_blank" class="" href="https://www.businessinsider.com/reddit-traders-memes-crypto-stock-market-wall-street-strikes-back-2021-12">piled</a> into beaten-down stocks, SPACs, crypto, and other high-risk assets in early 2021. Similarly, they <a target="_blank" class="" href="https://www.businessinsider.com/kalshi-polymarket-top-apple-app-store-downloads-election-betting-surge-2024-11">plowed</a> millions of dollars into Polymarket and other prediction-betting markets before the polls closed and Trump secured victory.Stars emerged both times. Keith "Roaring Kitty" Gill became the face of the GameStop craze for <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/keith-gill-gamestop-stock-bet-79-million-one-day-gain-2024-6">ostensibly making</a> tens of millions of dollars on the video game retailer's stock. A French trader known as Théo <a target="_blank" class="" href="https://www.businessinsider.com/polymarket-whale-banked-85-million-profit-trump-president-election-win-2024-11">racked up</a> similar profits betting on Trump via Polymarket.Young men played an outsize role in both sagas. In 2021, they flocked to the WSB subreddit and other social media to share their stock picks, exchange funny memes, and share screenshots of their wins and losses. Their <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/robinhood-trader-made-1300-percent-return-tesla-stock-rally-2020-2">motives</a> ranged from wanting to get rich quickly, to having a laugh, to fighting back against the Wall Street elite they saw as bullying the businesses of their childhood.<h2 id="c1b692d8-9e77-48f8-82d0-4c4d6b810ca3">Winning men</h2>Men under 30 <a target="_blank" class="" href="https://www.businessinsider.com/trump-2024-election-win-5-stats-to-explain-result-2024-11">rallied behind Trump en masse</a> this year, framing his campaign as a common-sense revolution against an oppressive establishment, lying media, and unfair system. Along with memes, they used AI-generated artwork to paint Trump and those around him as superheroes and patriotic titans. Trump and Musk <a target="_blank" class="" href="https://www.businessinsider.com/trump-targets-young-men-theo-von-logan-paul-adin-ross-2024-8">galvanized young men</a> with X posts, speaking to "manosphere" stars such as Joe Rogan, and <a target="_blank" class="" href="https://www.businessinsider.com/trump-joe-rogan-interview-podcast-young-male-voters-2024-10">promoting</a> traditional masculine ideals. The upshot was a stark shift among men under 30 in favor of Republicans compared to previous elections."It is hard not to attribute momentum gains in Trump support among younger male voters to Musk's or Rogan's endorsements," Mark Malek, chief investment officer at Siebert, told BI. He likened the trend to Musk's touting of dogecoin, which boosted the dog-themed crypto. Wall Street traders watched the swings in election betting markets to assess the state of the presidential race and inform their investments, Malek added.<h2 id="5e5ff9c8-86ff-4d6a-bc55-54b2a03ceb6a">Memes with meaning</h2>Naeem Aslam, chief investment officer at Zaye Capital Markets, told BI he saw "strong similarities" between the two events but with some twists this time."In 2021, WallStreetBets (WSB) aimed at the money bigwigs, rallying against hedge funds. But now, the target list has grown. It's not just Wall Street in the crosshairs. Washington, the media, and what many call the 'establishment' are all fair game," he said."The meme-driven buzz from 2021 has returned, but now it's mixed with a strong ideological element making today's speculative scene wider and longer-lasting."Trump Media &amp; Technology Group, the parent company of Truth Social which counts the president-elect as its majority shareholder, unites several of these ideas. It became a proxy for Trump's chances at returning to the White House and has <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-trade-us-presidential-election-dollar-treasuries-stocks-crypto-djt-2024-11">swung dramatically</a> in recent days.Tesla stock also <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-trump-win-elon-musk-election-tsla-2024-11">surged</a> 15% on Wednesday after Trump won, even as other clean-energy stocks tanked in anticipation of a less green administration. Malek said it was clear that "some sort of premium has been placed on the stock as a result of Musk's very public involvement in Trump's campaign.""Tesla is by no means a meme stock, but its recent move certainly has notes of one," he added.There are clear parallels between the meme stock mania of early 2021 and the social-media chatter and betting-platform activity going into the election. But it's worth acknowledging the difference in scale and stakes between the two episodes."One is selecting someone to run a country and make decisions that will affect millions of people's lives, the other is about a relatively small group of people hoping to make a quick buck," Dan Coatsworth, an investment analyst at AJ Bell, told BI.

Why the election felt like the 2021 meme stock rally — but way bigger

<ul><li>India’s largest airline InterGlobe Aviation (IndiGo) has much to gain if its peer Go First fails to land safely.</li><li>Cooler crude, more passengers taking to the skies, and the grounding of Go First have set the airline’s growth on a higher altitude.</li><li>IndiGo also expects a 15% growth in its revenue per available seat kilometre (RASK), a key metric for airlines, in FY24.</li></ul>India’s largest airline InterGlobe Aviation (IndiGo) has a lot to cheer if its peer Go First fails to land safely – with domestic and international market share up for grabs. If the troubles of the budget airline which has <a href="https://www.businessinsider.in/business/news/go-first-suspends-sale-of-tickets-till-may-15-dgca-asks-airline-to-process-refunds-for-passengers/articleshow/99982706.cms">filed</a> for insolvency compound, competition will ease in the low-cost segment giving IndiGo more control over air fares. IndiGo’s shares have surged by over 7% since May 2 when Go First announced that it had filed a voluntary insolvency petition with the National Company Law Tribunal (NCLT). Despite the recent surge, IndiGo is flying light – literally and figuratively – with its valuations being attractive, according to brokerages. On the back of robust fleet utilization rates and the Indian aviation sector being on an upswing, IndiGo expects its revenue per available seat kilometre (RASK), a key metric for airlines, to grow at 15% in FY24. Now, new tailwinds like the grounding of Go First and the softening of crude oil prices are expected to give it a further boost. “The bias is positive towards airline stocks, predominantly IndiGo, for the next 9-12 months,” said a report by Motilal Oswal, adding that the airline is well positioned to improve its realisations and margins too. An average of brokerage estimates suggests that there is an upside of 17% over the next 12 months, with a target price of ₹2,536 per share, as compared to the current market price of ₹2,164. <div type="image" title="InterGlobe Aviation share price 01_01_23 to 05_05_23." msid="100009463" hostid="261" caption="&amp;lt;p&amp;gt;IndiGo share price in 2023&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="Dominance will play to its advantage" comment="subhead" text="Dominance will play to its advantage">Dominance will play to its advantage</cmsannotation> There is daylight between the market share of IndiGo and its rivals – the company has a market share of 55% domestically. Air India and Vistara, owned by the Tata group come in next, with a share of 8.9% and 8.7% respectively. IndiGo’s dominance will play to its advantage, according to analysts, not only helping it boost its margins, but also increase its market share. “Go First accounted for 8% of domestic traffic and 5% of international traffic (among Indian carriers). If this capacity goes out of the system, industry-level load factor and pricing environment can improve substantially,” said a report by IIFL Securities. Analysts at Credit Suisse explain that bringing an airline back from the brink of a collapse is difficult, as evidenced by Jet Airways’ troubles. “Go First filing for bankruptcy can benefit IndiGo in many ways,” the brokerage said. <cmsannotation type="cmsannotation" annotationid="IndiGo’s flight gets bigger wings" comment="subhead" text="IndiGo’s flight gets bigger wings">IndiGo’s flight gets bigger wings</cmsannotation> While <a href="https://www.businessinsider.in/business/corporates/engines-omicron-more-the-timeline-of-troubles-at-go-first/slidelist/99987425.cms">Go First</a> was India’s third largest airline, the Covid-19 pandemic hit the company hard when Pratt &amp; Whitney engines started failing, leading to the airline grounding half of its fleet. The company <a href="https://www.businessinsider.in/business/news/go-first-suspends-sale-of-tickets-till-may-15-dgca-asks-airline-to-process-refunds-for-passengers/articleshow/99982706.cms">voluntarily filed</a> for insolvency seeking interim relief from NCLT to stop lessors from possessing its fleet. IndiGo too was a customer of Pratt &amp; Whitney once. But, when its engine troubles surfaced in 2016, it signed on a competitor – another US-based engine manufacturer CFM, and escaped this fate. With a diverse and young fleet, the airline now boasts over 1,800 daily departures with more than 300 aircraft. Further, to cater to the growing demand, IndiGo is also looking to expand its fleet by 500 more aircraft, from Boeing and Airbus. This was right after its rival Air India run by the Tata group <a href="https://www.businessinsider.in/india/news/of-total-840-aircraft-order-470-is-for-planes-while-the-rest-370-are-options-says-air-india-executive/articleshow/97978085.cms">placed</a> a mega order of 470 aircraft. <cmsannotation type="cmsannotation" annotationid="Flying high" comment="subhead" text="Flying high">Flying high</cmsannotation> Overall, brokerages are bullish about IndiGo’s prospects, stating that the softening crude oil prices will further help the airline improve its margins. A surge in domestic passenger traffic also bodes well for the Indian aviation sector, with April witnessing 15% higher traffic of 4.3 lakh passengers per day, than the FY23 average of 3.73 lakh. All in all, IndiGo’s numero uno position in India, cooler crude, more passengers taking to the skies, and the fall of Go First all set the airline’s growth on a higher altitude. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-hdfc-market-capitalisation-falls-after-msci-tweak/articleshow/100006092.cms">HDFC Bank, HDFC market capitalisation falls nearly ₹88,000 crore after MSCI tweak</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-enterprises-q4-net-profit-more-than-doubles-yoy-to-722-crore/articleshow/99990510.cms">Adani Enterprises Q4 net profit more than doubles YoY to ₹722 crore as airports and roads businesses pick up pace</a> <a href="https://www.businessinsider.in/business/auto/news/hero-motocorp-q4-net-profit-beats-estimates-rises-37-yoy-to-859-crore/articleshow/99989966.cms">Hero MotoCorp Q4 net profit beats estimates, rises 37% YoY to ₹859 crore</a>

You Searched For "Indigo Paints stock price" and got 6 results

Microsoft outage – London Stock Exchange, banks and airlines across the world affected

Sourabh Jain

Americans are the richest they've ever been thanks to soaring real estate and stock prices

Matthew Fox

Stock market today: Indexes tank as data paints a negative picture for the economy

Kelly Cloonan

Blue skies, bold investments: Pleasant weather drives investors to buy more high-risk stocks, study finds

Kunal Kambli

Why the election felt like the 2021 meme stock rally — but way bigger

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