The effect of the Microsoft server failure was seen not only in the US but in all countries around the world. The biggest impact was on airlines. Airline operations were halted all over the world. Due to which there was a fall in the stocks of airlines. If we talk about India, the stocks of the country’s largest airline, IndiGo, saw a huge fall. Due to which the company has suffered a loss of around Rs 5,300 crore.
Indigo has made it clear that passengers may experience problems even on weekends. By the way, flights have started again. But it may take some time to clear the delay. The company has asked passengers to check the status of their flight before leaving for the airport. If a passenger’s flight is cancelled, they can request an alternative flight or a full refund.
Passengers will have to be careful.
However, while giving information about its X-driver last night, the company said that the global disruption that caused operational issues has almost been resolved. Now the airline’s operation is going smoothly. The company also noted that customers may still face delays and disruptions in their schedules even during the weekend. The company has asked all customers to check the status of their flight before coming to the airport. So that they do not face any problems. The company has also posted a link for this.
On Saturday morning, Indigo also warned passengers to check the status of their flight on their X-handle before leaving for the airport. It has also been said that if a passenger’s flight has been cancelled, they can request an alternative flight or a full refund. For this, the company has also provided a link.
fall in the company’s shares
According to BSE data, on Friday, IndiGo shares fell over 3 per cent and the company’s stock closed at Rs 4,278.95 with a loss of Rs 137.25. However, during the trading session, the company’s stock also touched the day’s lowest level of Rs 4,251. However, the company’s stock opened at Rs 4,415. The company’s 52-week high is Rs 4,610, which was recorded on June 10.
5,300 crores wiped out the company’s market capitalization
Due to the fall in the stock, the market capitalisation of the company also suffered a huge loss. When the stock market closed on Thursday, the market capitalisation of the company was Rs 1,70,539.48 crore. It reached Rs 1,65,239.33 crore after the market closed on Friday. This means that there was a loss of Rs 5,300.15 crore in the market capitalisation of the company on Friday.
What is the government saying?
According to a statement from the Civil Aviation Ministry on Saturday, the air system began functioning normally at all airports from 3 a.m. Flight operations are now running smoothly. We hope that all issues will be resolved by this afternoon. The ministry said that we are constantly monitoring operations at our airports. In addition, efforts are being made with airlines to offer alternative flights and refunds to passengers.
