IndiGo has been facing a probe by Sebi ever since a public spat came to light between two founders of the airline, including over certain related party transactions involving one of the warring promoters.
IndiGo's co-founder and interim CEO Rahul Bhatia said profitability was significantly impacted by costs pressure from the increases in fuel price and the depreciation of rupee as well as competitive fare environment.
Flight operations at Chhatrapati Shivaji Maharaj International Airport were suspended twice for a brief period due to inclement weather and low visibility, a source said.
IndiGo has proposed to issue 185,000 shares worth to Chief Executive and Whole-time Director Ronojoy Dutta under the company's Employee Stock Option Plan (ESOP). The shares that can be exercised at a price of Rs 765 apiece is worth Rs 14,15,25,000. Dutta can exercise 25 per cent of that at the end of first year, 35 per cent at the end of second year, and the remaining in December 2023 when his current tenure ends.
Analysts remain sceptical on the profitability from freighter business, saying that once normal air transport resumes and there's abundant belly capacity, the traditional economics of air cargo may not be that lucrative.
'IndiGo 2018 is a harsh, ultra-lean, mean, zero asset, fighting machine with aspirations of taking on the global long-haul low-cost market.'
'Airlines are aware that during peak times like Diwali, demand will be high, so prices remain steep even for tickets purchased 90 days ahead.'
Airfares on major domestic routes such as Kolkata-Bagdogra, Delhi-Bengaluru, and Delhi-Mumbai have witnessed an increase of up to 12.7 per cent year-on-year (Y-o-Y) in May this year, according to data by Thomas Cook (India) and SOTC Travel. The recent increase in aviation turbine fuel prices, rupee depreciation, reduction of flights by key players, and grounding of planes due to engine supply issues have contributed to the rise in airfares, said aviation industry experts. However, the data also shows that summer airfares on key routes such as Delhi-Leh and Delhi-Kolkata have significantly decreased due to the introduction of new flights.
The Delhi airport, the country's busiest airport, on Friday early morning witnessed the collapse of a roof at Terminal 1 amid heavy rains that killed one person, prompting the government to order a detailed probe and an inspection of the structural strength of all airports.
He said that the Sri Lankan authorities have arrested more of their associates but it won't be right to reveal any more details on them as the investigation is going on.
The introduction of these new flights would help IndiGo cross 650 flights mark as the it would offer a total of 671 flights per day connecting 39 destinations.
Industries such as aviation and hospitality have many silos within them and Aionos, the joint venture between Interglobe Enterprises (IGE) and Assago Group, is an attempt to bridge them and boost efficiencies using artificial intelligence (AI) solutions, Rahul Bhatia told Business Standard on Tuesday. Bhatia, the Group Managing Director of IGE, serves as the majority shareholder in India's largest airline, IndiGo. Additionally, IGE operates 21 hotels under the Ibis brand and runs a logistics company called Movin.
IndiGo's president and director Aditya Ghosh apologised for the incident and said stern action was taken against an airline staff for manhandling the passenger.
From bold colour-blocking to sleek silhouettes, US Open 2024's collections feature the latest trends in tennis fashion.
The carrier said for domestic flights the fees for cancellation and changes would now be Rs 3,500 and Rs 3,000 respectively, if it was done within three days of the flight's departure. Before this announcement, IndiGo charged a flat rate of Rs 3,000 and Rs 2,500 for cancellation and detail changes on domestic tickets.
The founders of IndiGo may have thought it's time to go for a rejig of the top leadership team which can take care of the growing demands of an airline that has grown much bigger than they could have ever imagined, says Shyamal Majumdar.
Aditya Ghosh, with no prior aviation background or MBA degree, managed not only to become the CEO of an airline but even piloted it to the top with almost half of the market.
IndiGo, India's largest airline, is in talks to raise fresh funds as a second wave of pandemic has led to collapse in travel demand. The airline may look to raise Rs 3,500-4,000 crore. On Monday, only 97,761 passengers flew. With flyers cancelling bookings, airlines had to put aside flights and operated only 1,306 of them.
Gangwal said he will not vote in favour of resolutions that intend to expand the size of the board to 10 members. Gangwal wants a seven-member board.
Tech titan Google on Wednesday launched the Google Wallet app for Android users in India, allowing them to securely store essentials like boarding passes, loyalty cards, event tickets, and public transport passes. The digital wallet, which becomes operational in India from Wednesday, comes as a complementary service to existing payment app Google Pay, a top official said.
Nearly 200 of the 789 aircraft of Indian carriers are expected to be grounded by the end of March due to ongoing supply chain issues, according to the report released on Monday by CAPA India. At present, 161-166 aircraft are grounded. "More aircraft will be on the ground than expected due to serious supply chain issues, which were supposed to improve but actually deteriorated," it noted.
People in the know said the move would impact around 110 engines, virtually putting a spanner on the expansion plans of IndiGo - counted among the fastest growing airlines in the world.
Given its network and fleet, it has garnered the highest share of passenger growth.
Airfares have nearly doubled in a matter of days on routes hit by the cancellation of 200 weekly flights linking Mumbai airport to 12 cities. The fares have soared as high as 193 per cent following a recent government order to cancel flights to ease "persistent congestion" that was causing delays. Aside from the reduction in flights on 12 routes, two destinations - Hubli and Jabalpur - have lost connectivity with Mumbai since last week, according to aviation analytics firm Cirium's data reviewed
The aircraft was taken to an isolated bay for a secondary ladder point check after a Bomb Threat Assessment Committee (BTAC) found the threat as 'specific', the sources said.
Despite having started at least a decade later than Jet Airways, IndiGo accounts for the lion's share in the domestic market
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
Equity trading volumes, both in the cash and derivatives segments, dropped in March amid wild swings in stock prices. The average daily trading volume for the cash segment (National Stock Exchange, or NSE, and BSE combined) fell by 16.3 per cent to Rs 1.07 trillion - the lowest since November 2023. Market players said the drop could have been sharper if not for the large block deals in companies such as ITC, Tata Consultancy Services, and IndiGo seen during the month.
With this, the biggest buyer of Airbus SE A320neo planes seems to be moving away from Pratt & Whitney engines, which have been experiencing glitches. CFM International will deliver the first engine by 2020.
Rupesh Kumar Singh, 40, was sprayed with bullets while he was inside his SUV waiting for the gates of his residence in Punaichak locality in the city to open after his return from office on Tuesday evening.
Initially, starting with a slightly curtailed capacity, the airline will increase the operating capacity over the subsequent months, also reopening selected international flights, depending on the existing international travel guidelines: IndiGo.
IndiGo is facing acute shortage of commanders amid aggressive expansion of its fleet. The carrier has more than 210 planes in its fleet.
The cancelled flights account for almost 10 per cent of the airline's operations
The pilot wrote in his letter to airline's management that he was 'disheartened' to learn the carrier took action against the comedian without consulting him and solely on the basis of social media posts.
The winners of Pink Lady Food Photographer of the Year 2024 have been revealed.
Sources in the government said the roof that collapsed at T1 was constructed during 2008-09 and that the work was contracted out by GMR to private contractors.
'We have seen some videos wherein mediapersons are standing too close to each other in the 6E264 flight on Wednesday. It seems to be a violation of safety and social distancing protocols'
The safety and security of citizens is primary for the government, he said.
This came even as the airline recorded the fastest domestic passenger growth rate of 26 per cent.
'This trend will continue as long as the bull run continues.'
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