IndiGo's share price has fallen significantly from its August 2025 high, dropping below Rs 5,000 after cancelling nearly 4,500 flights in December 2025. While the airline cited new Flight Duty Time Limit (FDTL) norms, the government called it an operational failure. These cancellations stranded thousands of passengers and impacted IndiGo's operational excellence, a key factor in its value. The market is now assessing whether this event represents a buying opportunity or a warning sign for the airline's future profitability.