MUMBAI, March 5 -- About a fourth of IndiGo's international flights, more than 500, have been cancelled amid the escalating West Asia crisis, rattling investors and prompting analysts to question whether the disruption could prove more damaging than the domestic flight chaos the airline faced in early December.

Shares of India's largest airline, IndiGo, tumbled 10% between 2 March and 4 March, erasing nearly Rs.17,075 crore in market capitalization, as international flight cancellations triggered by the crisis and rising crude prices stoked investor anxiety.

More than 500 of the airline's international flights have been cancelled since 28 February, when the strikes began. Brent crude prices have also surged nearly 12.3% to $81.40 a barr...