New Delhi: Indian airline company IndiGo has surpassed US' low-cost carrier Southwest Airlines to claim the third spot in global airline valuation. With its stock price surging by 4.73 percent, IndiGo's market capitalization now stands at Rs 1,320.375 billion - ahead of Southwest's Rs 1,299.975 billion.

Currently operating 14,014 flights per week, the airline has shown an impressive 11.2 percent increase in flight frequency compared to the previous week of April. Notably, IndiGo's dominance extends beyond market capitalization. The airline has made waves with its ambitious aircraft orders, including a monumental deal with Airbus for 500 A320neo family planes, marking one of the largest aircraft orders in recent history.

The trajectory of India's aviation industry is equally promising. With projections from industry experts suggesting India's emergence as a global aviation hub within the next 15 years, the future looks bright. Factors such as robust demand, expanding capacity, and the presence of professionally-managed airlines are cited as driving forces behind this optimistic outlook.

India's aviation sector is poised for exponential growth, with around 800 commercial aircraft currently operating in its skies, predominantly from Airbus.

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