The largest shareholder of IndiGo Airlines, Interglobe Enterprises, is planning to sell a 2% stake in the Indian low-cost carrier for $394 million, according to a timesheet seen by Reuters.&nbsp;

This is the first stock sale in at least four years in which the company’s stock has appreciated significantly.&nbsp;

InterGlobe Enterprises holds a 37.75 per cent stake in IndiGo’s operator InterGlobe Aviation and is selling its stake at its base price of Rs 4,266, the term sheet showed.&nbsp;

That's a 6.6 per cent discount to the stock's closing price on Monday. The stock fell 3.6 per cent to Rs 4,403.40 on Tuesday.&nbsp;

InterGlobe Enterprises, led by Indigo co-founder Rahul Bhatia, will no longer be able to sell any shares for 365 days, the term sheet indicated.&nbsp;

Another co-founder of Indigo, Rakesh Gangwal and his wife Shobha reduced their stake by selling more shares over a year ago.&nbsp;

However, IndiGo stock has surged nearly 85 per cent in the past year, reaching multiple highs.&nbsp;

InterGlobe Enterprises operates in the hospitality and logistics sectors.&nbsp;

The airline recently partnered with US-based Archer Aviation to launch electric air taxis in India.

According to state-owned stock exchange data, about 1.1 million IndiGo shares changed hands through block trades on Tuesday, all of which were reduced to the final closing price but above the target price.&nbsp;

IndiGo has more than 1,000 aircraft on order from Airbus and is planning long-haul flights for later this year.&nbsp;

Citigroup is the sole broker for the deal.

The largest shareholder of IndiGo Airlines, Interglobe Enterprises, is planning to sell a 2% stake in the Indian low-cost carrier for $394 million, according to a timesheet seen by Reuters.

The largest shareholder of IndiGo Airlines, Interglobe Enterprises, is planning to sell a 2% stake in the Indian low-cost carrier for $394 million, according to a timesheet seen by Reuters. This is the first stock sale in at least four years in which the company’s stock has appreciated significantly. InterGlobe Enterprises holds a 37.75 per cent stake in IndiGo’s operator InterGlobe Aviation and is selling its stake at its base price of Rs 4,266, the term sheet showed. That's a 6.6 per cent discount to the stock's closing price on Monday. The stock fell 3.6 per cent to Rs 4,403.40 on Tuesday. InterGlobe Enterprises, led by Indigo co-founder Rahul Bhatia, will no longer be able to sell any shares for 365 days, the term sheet indicated. Another co-founder of Indigo, Rakesh Gangwal and his wife Shobha reduced their stake by selling more shares over a year ago. However, IndiGo stock has surged nearly 85 per cent in the past year, reaching multiple highs. InterGlobe Enterprises operates in the hospitality and logistics sectors. The airline recently partnered with US-based Archer Aviation to launch electric air taxis in India. According to state-owned stock exchange data, about 1.1 million IndiGo shares changed hands through block trades on Tuesday, all of which were reduced to the final closing price but above the target price. IndiGo has more than 1,000 aircraft on order from Airbus and is planning long-haul flights for later this year. Citigroup is the sole broker for the deal.

Indigo stock dips as largest shareholder plans to offload 2% stake

InterGlobe Enterprises, which runs&nbsp;India's leading airline, IndiGo, and US-based Archer Aviation, have announced plans to introduce an all-electric air taxi service in India by 2026, Reuters reported.&nbsp;

The partnership, contingent on regulatory approvals, aims to address the escalating need for efficient transport solutions in India, a country grappling with severe ground travel congestion and urban pollution. Archer Aviation, endorsed by industry giants like Boeing and United Airlines, specialises in electric vertical take-off and landing aircraft, considered the future of urban air mobility.&nbsp;

The proposed 'Midnight' e-aircraft, capable of carrying four passengers and a pilot for up to 100 miles, is slated to begin services in Delhi, Mumbai, and Bengaluru. The companies emphasise that the electric air taxi service will be "cost-competitive" with on-road services. A trip that typically takes 60 to 90 minutes by car in Delhi is estimated to take approximately 7 minutes in an air taxi.&nbsp;

InterGlobe Enterprises, holding a nearly 38 per cent stake in IndiGo-parent InterGlobe Aviation, envisions using the e-aircraft for various purposes beyond passenger transport. Plans include deploying them for cargo, logistics, medical, emergency, and charter services, broadening the scope of their impact on India's transportation landscape.&nbsp;

Archer Aviation recently secured a $142 million deal from the US Air Force in July to supply six Midnight aircraft. In October, the company announced plans to launch an air taxi service in the UAE. Archer Aviation's shares reflected optimism, with a 1.5 per cent increase in U.S. premarket trading on Thursday. &nbsp;

Meanwhile, InterGlobe Aviation experienced a 0.12 per cent increase in its shares ahead of the groundbreaking announcement. As the collaboration progresses, regulatory clearances will play a pivotal role in shaping the future of electric air taxis in India, offering a potential solution to the country's pressing urban mobility challenges.&nbsp;

(With inputs from Reuters)&nbsp;

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InterGlobe Enterprises, which runs India's leading airline, IndiGo, and US-based Archer Aviation, have announced plans to introduce an all-electric air taxi service in India by 2026, Reuters reported.

InterGlobe Enterprises, which runs India's leading airline, IndiGo, and US-based Archer Aviation, have announced plans to introduce an all-electric air taxi service in India by 2026, Reuters reported. The partnership, contingent on regulatory approvals, aims to address the escalating need for efficient transport solutions in India, a country grappling with severe ground travel congestion and urban pollution. Archer Aviation, endorsed by industry giants like Boeing and United Airlines, specialises in electric vertical take-off and landing aircraft, considered the future of urban air mobility. The proposed 'Midnight' e-aircraft, capable of carrying four passengers and a pilot for up to 100 miles, is slated to begin services in Delhi, Mumbai, and Bengaluru. The companies emphasise that the electric air taxi service will be "cost-competitive" with on-road services. A trip that typically takes 60 to 90 minutes by car in Delhi is estimated to take approximately 7 minutes in an air taxi. InterGlobe Enterprises, holding a nearly 38 per cent stake in IndiGo-parent InterGlobe Aviation, envisions using the e-aircraft for various purposes beyond passenger transport. Plans include deploying them for cargo, logistics, medical, emergency, and charter services, broadening the scope of their impact on India's transportation landscape. Archer Aviation recently secured a $142 million deal from the US Air Force in July to supply six Midnight aircraft. In October, the company announced plans to launch an air taxi service in the UAE. Archer Aviation's shares reflected optimism, with a 1.5 per cent increase in U.S. premarket trading on Thursday. Meanwhile, InterGlobe Aviation experienced a 0.12 per cent increase in its shares ahead of the groundbreaking announcement. As the collaboration progresses, regulatory clearances will play a pivotal role in shaping the future of electric air taxis in India, offering a potential solution to the country's pressing urban mobility challenges. (With inputs from Reuters) WATCH WION LIVE HERE

InterGlobe and Archer to launch electric air taxis in India by 2026 

Shares of InterGlobe Aviation climbed nearly 3 per cent to hit its 52-week high level during the trade on Tuesday, a day after IndiGo announced placing a firm order to buy 500 narrow-body planes from Airbus.

The stock of the parent of IndiGo gained 2.76 per cent to hit its 52-week high of Rs 2,499.95 during the day on the BSE. However, later it trimmed most of the early gains and ended almost flat at Rs 2,438.35, up 0.23 per cent.

At the NSE, shares of the company advanced 2.37 per cent to its 52-week high of Rs 2,490 in intra-day trade. Later, it gave up most of the gains and ended at Rs 2,434.40, up 0.09 per cent. 
In one of the largest-ever aircraft purchases by an airline, IndiGo on Monday announced placing a firm order to buy 500 narrow-body planes from Airbus as the airline embarks on an ambitious long-term growth path.

The multi-billion dollar deal comes less than five months after Air India placed orders for 470 aircraft with Airbus and Boeing.

The latest order by IndiGo is the largest-ever aircraft order placed by any airline with Airbus. 
Financial details of the order were not disclosed. The aircraft purchase agreement was signed between the airline and Airbus at the Paris Air Show 2023.

The latest order will provide IndiGo a further steady stream of deliveries between 2030 and 2035, the airline said in a release. Currently, IndiGo operates more than 300 aircraft. It has previous orders totalling 480 aircraft, which are yet to be delivered.

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Shares of InterGlobe Aviation climbed nearly 3 per cent to hit its 52-week high level during the trade on Tuesday, a day after IndiGo announced placing a firm order to buy 500 narrow-body planes from Airbus.

Shares of InterGlobe Aviation climbed nearly 3 per cent to hit its 52-week high level during the trade on Tuesday, a day after IndiGo announced placing a firm order to buy 500 narrow-body planes from Airbus. The stock of the parent of IndiGo gained 2.76 per cent to hit its 52-week high of Rs 2,499.95 during the day on the BSE. However, later it trimmed most of the early gains and ended almost flat at Rs 2,438.35, up 0.23 per cent. At the NSE, shares of the company advanced 2.37 per cent to its 52-week high of Rs 2,490 in intra-day trade. Later, it gave up most of the gains and ended at Rs 2,434.40, up 0.09 per cent. In one of the largest-ever aircraft purchases by an airline, IndiGo on Monday announced placing a firm order to buy 500 narrow-body planes from Airbus as the airline embarks on an ambitious long-term growth path. The multi-billion dollar deal comes less than five months after Air India placed orders for 470 aircraft with Airbus and Boeing. The latest order by IndiGo is the largest-ever aircraft order placed by any airline with Airbus. Financial details of the order were not disclosed. The aircraft purchase agreement was signed between the airline and Airbus at the Paris Air Show 2023. The latest order will provide IndiGo a further steady stream of deliveries between 2030 and 2035, the airline said in a release. Currently, IndiGo operates more than 300 aircraft. It has previous orders totalling 480 aircraft, which are yet to be delivered. WATCH WION LIVE HERE

InterGlobe Aviation shares hit 52-week high in intra-day trade

Interglobe&nbsp;Aviation&nbsp;Ltd, which operates India's top&nbsp;airline&nbsp;IndiGo, on Friday reported its highest-ever quarterly&nbsp;profit&nbsp;after tax in the June quarter, as the collapse&nbsp;of&nbsp;Jet&nbsp;Airways diverted passengers to other low-cost carriers.

The company and its peer SpiceJet&nbsp;Ltd have both seen a surge in passenger growth, after&nbsp;Jet&nbsp;Airways, once the country's biggest private carrier, declared bankruptcy.

Interglobe&nbsp;said its net&nbsp;profit&nbsp;for the three months ended June 30 rose to over 12 billion rupees&nbsp;from 277.9 million rupees a year ago. Revenue rose 45% to 94.2 billion rupees.

IndiGo's founders have recently been involved in an escalating dispute, dragging down the parent's shares.

IndiGo's yield, a measure of the average passenger fare per mile, rose 12.8%, reflecting the rising passenger preference for the&nbsp;airline, which is now India's biggest by market share.

Interglobe&nbsp;shares closed 0.28% higher on Friday amid a broader market that ended 1.53% down.

Interglobe Aviation Ltd, which operates India's top airline IndiGo, on Friday reported its highest-ever quarterly profit after tax in the June quarter, as the collapse of Jet Airways diverted passengers to other low-cost carriers.

Interglobe Aviation Ltd, which operates India's top airline IndiGo, on Friday reported its highest-ever quarterly profit after tax in the June quarter, as the collapse of Jet Airways diverted passengers to other low-cost carriers. The company and its peer SpiceJet Ltd have both seen a surge in passenger growth, after Jet Airways, once the country's biggest private carrier, declared bankruptcy. Interglobe said its net profit for the three months ended June 30 rose to over 12 billion rupees from 277.9 million rupees a year ago. Revenue rose 45% to 94.2 billion rupees. IndiGo's founders have recently been involved in an escalating dispute, dragging down the parent's shares. IndiGo's yield, a measure of the average passenger fare per mile, rose 12.8%, reflecting the rising passenger preference for the airline, which is now India's biggest by market share. Interglobe shares closed 0.28% higher on Friday amid a broader market that ended 1.53% down.

IndiGo operator Interglobe Aviation profit surges on Jet Air collapse

One of the co-founders of <a href="https://www.wionews.com/business-economy/indigo-close-to-new-engine-deal-may-drop-pratt-for-cfm-223500">India's largest airline IndiGo</a> has alleged violation of corporate governance rules at parent company Interglobe Aviation Ltd and asked the securities regulator to intervene.

The move appears to indicate that a boardroom dispute is escalating after a report in May that the co-founders and two largest shareholders of India's largest airline were at odds over its expansion.&nbsp;

In a letter to Sebi or Securities and Exchange Board of India, co-founder Rakesh Gangwal alleged the company's board decisions were in defiance of governance protocols and laws.

Sebi, in its role as a stock market regulator, is empowered to protect the rights of investors in listed companies.

Co-founders Gangwal and Rahul Bhatia, along with their respective families, each control stakes of slightly less than 40 per cent in the airline's holding company, giving them both a major say in its strategy and plans.

"I have vigorously attempted for almost a year to persuade the company to shore up its governance standards, and all my attempts have been thwarted by the IGE Group," Gangwal said in his letter to Sebi, published on the Bombay Stock Exchange website&nbsp;

Sebi has sought a reply from Interglobe Aviation by July 19.&nbsp;

Gangwal, an American and an aviation industry veteran who spent years in senior roles at United Airlines and US Airways, has been a big factor in driving IndiGo's emergence as one of the fastest growing carriers in the world.

Bhatia, in turn, has been running things on the ground in India.

India's aviation sector has been shaken by the collapse of Jet Airways, which has sent travel prices soaring. Jet, once India's largest private carrier, was crippled by mounting losses.

IndiGo, SpiceJet and GoAir have been rushing to fill the vacuum left by Jet and gain control of its valuable slots.&nbsp;

IndiGo's fleet consists of more than 200 Airbus SE A320 and A321 narrowbody aircraft, along with just over a dozen ATR turboprops.&nbsp;

Bhatia's office did not respond to an e-mail and phone call from Reuters.

One of the co-founders of India's largest airline IndiGo has alleged violation of corporate governance rules at parent company Interglobe Aviation Ltd and asked the securities regulator to intervene.

One of the co-founders of India's largest airline IndiGo has alleged violation of corporate governance rules at parent company Interglobe Aviation Ltd and asked the securities regulator to intervene. The move appears to indicate that a boardroom dispute is escalating after a report in May that the co-founders and two largest shareholders of India's largest airline were at odds over its expansion. In a letter to Sebi or Securities and Exchange Board of India, co-founder Rakesh Gangwal alleged the company's board decisions were in defiance of governance protocols and laws. Sebi, in its role as a stock market regulator, is empowered to protect the rights of investors in listed companies. Co-founders Gangwal and Rahul Bhatia, along with their respective families, each control stakes of slightly less than 40 per cent in the airline's holding company, giving them both a major say in its strategy and plans. "I have vigorously attempted for almost a year to persuade the company to shore up its governance standards, and all my attempts have been thwarted by the IGE Group," Gangwal said in his letter to Sebi, published on the Bombay Stock Exchange website Sebi has sought a reply from Interglobe Aviation by July 19. Gangwal, an American and an aviation industry veteran who spent years in senior roles at United Airlines and US Airways, has been a big factor in driving IndiGo's emergence as one of the fastest growing carriers in the world. Bhatia, in turn, has been running things on the ground in India. India's aviation sector has been shaken by the collapse of Jet Airways, which has sent travel prices soaring. Jet, once India's largest private carrier, was crippled by mounting losses. IndiGo, SpiceJet and GoAir have been rushing to fill the vacuum left by Jet and gain control of its valuable slots. IndiGo's fleet consists of more than 200 Airbus SE A320 and A321 narrowbody aircraft, along with just over a dozen ATR turboprops. Bhatia's office did not respond to an e-mail and phone call from Reuters.

IndiGo co-founder turns to Sebi over alleged corporate governance violation

Budget airline&nbsp;SpiceJet&nbsp;Ltd posted a 22% jump in fourth-quarter profit on Tuesday, as it flew more customers and was able to raise prices at a time when the industry benefited from the collapse of Jet Airways.

Indian carriers, including budget airlines&nbsp;<a href="https://www.wionews.com/business-economy/spicejet-adds-100th-plane-to-fleet-becomes-fourth-domestic-airline-to-do-so-221813">SpiceJet</a>&nbsp;and Interglobe Aviation Ltd's IndiGo, have been taking advantage of debt-laden Jet's downfall, adding flights and routes and raising fares in response to a drop in capacity.

"(With) significant improvements in yields and prime slots at key airports, we are confident of a strong performance for FY2020," Chairman and Managing Director Ajay Singh said in a statement.

SpiceJet&nbsp;said it added 25 aircraft in April and May. Jet started grounding planes at the beginning of the year and was eventually forced to stop operations in April. On Tuesday,&nbsp;SpiceJet&nbsp;said it would add 35 aircraft to its fleet by fiscal 2020 and that average fare rose 11% and capacity increased 21% in the reported quarter.

Standalone net profit, excluding earnings of units&nbsp;SpiceJet&nbsp;Merchandise,&nbsp;SpiceJet&nbsp;Technic and Canvin Real Estate, reached 562.9 million rupees ($8.08 million) in January-March, from 461.5 million rupees in the same period a year earlier.

Budget airline SpiceJet Ltd posted a 22% jump in fourth-quarter profit on Tuesday, as it flew more customers and was able to raise prices at a time when the industry benefited from the collapse of Jet Airways.

Budget airline SpiceJet Ltd posted a 22% jump in fourth-quarter profit on Tuesday, as it flew more customers and was able to raise prices at a time when the industry benefited from the collapse of Jet Airways. Indian carriers, including budget airlines SpiceJet and Interglobe Aviation Ltd's IndiGo, have been taking advantage of debt-laden Jet's downfall, adding flights and routes and raising fares in response to a drop in capacity. "(With) significant improvements in yields and prime slots at key airports, we are confident of a strong performance for FY2020," Chairman and Managing Director Ajay Singh said in a statement. SpiceJet said it added 25 aircraft in April and May. Jet started grounding planes at the beginning of the year and was eventually forced to stop operations in April. On Tuesday, SpiceJet said it would add 35 aircraft to its fleet by fiscal 2020 and that average fare rose 11% and capacity increased 21% in the reported quarter. Standalone net profit, excluding earnings of units SpiceJet Merchandise, SpiceJet Technic and Canvin Real Estate, reached 562.9 million rupees ($8.08 million) in January-March, from 461.5 million rupees in the same period a year earlier.

SpiceJet posts 22% jump in fourth-quarter profit, sees strong year ahead

Shares of InterGlobe Aviation, the parent company of<a href="https://www.wionews.com/business-economy/indigo-forecasts-strong-year-as-jet-airways-collapse-boosts-profit-222065"> IndiGo airline</a>, rallied over 3 per cent in early trade Tuesday, a day after the company posted a five-fold jump in profit after tax to Rs 589.6 crore for March quarter.

The company had posted a profit of Rs 117.6 crore in the corresponding period of 2017-18. On the BSE, the stock opened on a positive note at Rs 1,705 and jumped 3.18 per cent to Rs 1,716 over its previous close. The scrip opened at Rs 1,698 and further rose 3.23 per cent to Rs 1,716 on the NSE.

InterGlobe Aviation Monday said that its annual net profit for 2018-19 stood at Rs 156.1 crore, which was 93 per cent less than Rs 2,242.4 crore for the 2017-18 fiscal.

IndiGo CEO Ronojoy Dutta said, "Fiscal 2019 was a tough year for the airline industry in India because of high fuel prices, weak rupee and intensely competitive environment."

"However, it is a tale of two halves for IndiGo, with the first half of the year incurring losses and the second half of the year experiencing a sharp recovery," he added.

Shares of InterGlobe Aviation, the parent company of IndiGo airline, rallied over 3 per cent in early trade Tuesday, a day after the company posted a five-fold jump in profit after tax to Rs 589.

Shares of InterGlobe Aviation, the parent company of IndiGo airline, rallied over 3 per cent in early trade Tuesday, a day after the company posted a five-fold jump in profit after tax to Rs 589.6 crore for March quarter. The company had posted a profit of Rs 117.6 crore in the corresponding period of 2017-18. On the BSE, the stock opened on a positive note at Rs 1,705 and jumped 3.18 per cent to Rs 1,716 over its previous close. The scrip opened at Rs 1,698 and further rose 3.23 per cent to Rs 1,716 on the NSE. InterGlobe Aviation Monday said that its annual net profit for 2018-19 stood at Rs 156.1 crore, which was 93 per cent less than Rs 2,242.4 crore for the 2017-18 fiscal. IndiGo CEO Ronojoy Dutta said, "Fiscal 2019 was a tough year for the airline industry in India because of high fuel prices, weak rupee and intensely competitive environment." "However, it is a tale of two halves for IndiGo, with the first half of the year incurring losses and the second half of the year experiencing a sharp recovery," he added.

IndiGo shares rise 3% post Q4 results

IndiGo's parent InterGlobe Aviation on Wednesday reported a loss of Rs 652.1 crore in the three months ended September as higher costs and intense competition took a toll on the bottom line.

This is the first time that the carrier has posted a quarterly loss since getting listed in November 2015.

IndiGo, the country's largest airline with over 40 per cent market share, had a profit of Rs 551.6 crore in the year-ago period.

According to a regulatory filing, IndiGo's total income rose over 18 per cent to Rs 6,514.2 crore in the second quarter ended September 2018.

In the same period a year ago, the total income stood at Rs 5,505.6 crore.

"High fuel cost, rupee depreciation and intense competition significantly impacted profitability," the filing said.

In the latest quarter under review, total expenses jumped 58.2 per cent to Rs 7,502.3 crore.&nbsp;

IndiGo's co-founder and interim CEO Rahul Bhatia said aviation in India is facing significant pressures from high fuel costs, rupee depreciation and intense competition, all of which have impacted the airline's profitability.

"Despite this difficult environment, IndiGo remains well-positioned, thanks to our low cost structure and strong balance sheet," he noted. PTI IAS RAM RAM ANU ANU

IndiGo's parent InterGlobe Aviation on Wednesday reported a loss of Rs 652.1 crore in the three months ended September as higher costs and intense competition took a toll on the bottom line.

IndiGo's parent InterGlobe Aviation on Wednesday reported a loss of Rs 652.1 crore in the three months ended September as higher costs and intense competition took a toll on the bottom line. This is the first time that the carrier has posted a quarterly loss since getting listed in November 2015. IndiGo, the country's largest airline with over 40 per cent market share, had a profit of Rs 551.6 crore in the year-ago period. According to a regulatory filing, IndiGo's total income rose over 18 per cent to Rs 6,514.2 crore in the second quarter ended September 2018. In the same period a year ago, the total income stood at Rs 5,505.6 crore. "High fuel cost, rupee depreciation and intense competition significantly impacted profitability," the filing said. In the latest quarter under review, total expenses jumped 58.2 per cent to Rs 7,502.3 crore. IndiGo's co-founder and interim CEO Rahul Bhatia said aviation in India is facing significant pressures from high fuel costs, rupee depreciation and intense competition, all of which have impacted the airline's profitability. "Despite this difficult environment, IndiGo remains well-positioned, thanks to our low cost structure and strong balance sheet," he noted. PTI IAS RAM RAM ANU ANU

IndiGo posts Rs 652 crore quarterly loss

InterGlobe Aviation, which operates country's top carrier IndiGo airlines, announced that Aditya Ghosh, the President and whole-time Director of IndiGo has stepped down effective July 31, after being with the company for 10 years.

In a statement issued post a Board meeting held on Friday, the company announced that its Chairman, Rahul Bhatia, will function as the interim Chief Executive Officer (CEO) as well as the Director of the company.

Ghosh said&nbsphe would be resigning in order to take up his "next adventure" and expressed his good wished to the airline for their expansion spree.

The airline Board announced that Ghosh`s resignation as President of the Company would be effective from July 31.

Founded in 2006 by travel entrepreneur Bhatia and Rakesh Gangwal, a former chief executive of US Airways, low-cost IndiGo has grown rapidly to become the country's largest airline with a market share of 39.7 per cent as of end-March.

Ghosh, a trained lawyer, joined the company in 2008.

IndiGo also announced the return of Greg Taylor to the Board of the company as a Senior Advisor.&nbsp

Ghosh, who has been with IndiGo for ten years, announced that he would be resigning in order to take up his "next adventure" and expressed his good wished to the airline for their expansion spree.

InterGlobe Aviation, which operates country's top carrier IndiGo airlines, announced that Aditya Ghosh, the President and whole-time Director of IndiGo has stepped down effective July 31, after being with the company for 10 years. In a statement issued post a Board meeting held on Friday, the company announced that its Chairman, Rahul Bhatia, will function as the interim Chief Executive Officer (CEO) as well as the Director of the company. Ghosh said&nbsphe would be resigning in order to take up his "next adventure" and expressed his good wished to the airline for their expansion spree. The airline Board announced that Ghosh`s resignation as President of the Company would be effective from July 31. Founded in 2006 by travel entrepreneur Bhatia and Rakesh Gangwal, a former chief executive of US Airways, low-cost IndiGo has grown rapidly to become the country's largest airline with a market share of 39.7 per cent as of end-March. Ghosh, a trained lawyer, joined the company in 2008. IndiGo also announced the return of Greg Taylor to the Board of the company as a Senior Advisor.

IndiGo president Aditya Ghosh resigns; Rahul Bhatia named interim CEO

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