July 16th, 2022 8:43 PM 0 COMMENTS

IndiGo Onboards Former SEBI Chairman M Damodaran as Non-Independent Executive Director

India’s largest airline, IndiGo, has onboarded the former SEBI (Securities & Exchange Board of India) chairman, M Damodaran as the non-independent executive director of the company. The announcement was made by InterGlobe Aviation, the parent company of IndiGo. The move is subject to shareholders' approval. Damodaran was earlier serving as an Independent Director and chairman of the board of Directors at InterGlobe Aviation from January 24, 2019, to May 3,... Read More

June 21st, 2022 6:53 PM 0 COMMENTS

Air India Plans One of the Huge Aircraft Purchases in the History of Aviation

According to persons familiar with the situation, Air India Ltd. is considering acquiring as many as 300 narrowbody planes, which would be one of the largest purchases in commercial aviation history, as the once state-run airline prepares to modernise its fleet under new ownership. The airline may acquire Airbus SE's A320neo family jets, Boeing Co.'s 737 Max models, or a combination of both, according to the sources, who asked not... Read More

June 17th, 2022 5:52 PM 0 COMMENTS

Shares of SpiceJet and InterGlobe Aviation Came Under Heavy Selling Over ATF Rise

After ATF prices were hiked to a record high on Thursday, shares of SpiceJet and InterGlobe Aviation were heavily sold. SpiceJet's stock dropped 7.05 % to Rs 40.90 per share on the BSE. During the day, it fell 8.29 % to Rs 40.35, a one-year low. IndiGo's parent company, InterGlobe Aviation, slumped 5.22 % to Rs 1,644.65 a share. During the day, the stock plummeted 5.83% to Rs 1,634. Jet fuel... Read More

February 19th, 2022 6:30 PM 0 COMMENTS

IndiGo Co-Founder Rakesh Gangwal Resigns From IndiGo’s Board

Rakesh Gangwal, the co-promoter of IndiGo Airlines, resigned from the carrier’s parent company InterGlobe Aviation and hence, from its Board of Directors, with immediate effect. He was serving as a non-independent, non-executive Director at the company. In a letter written to the Board of Directors, Gangwal said that he would sell his stakes at the airline over a span of five years but may consider re-joining the board as a... Read More

December 31st, 2021 11:32 PM 0 COMMENTS

IndiGo Gets Approval to Sell Promoter Share

InterGlobe Aviation, the parent of low-cost airline IndiGo, accepted a resolution to change its Articles of Association (AoA) on Thursday, removing the promoters' restrictions on selling their shares. The permission signals a crucial turning point in promoters Rahul Bhatia and Rakesh Gangwal's two-year battle. There has been talk that Gangwal may sell a portion of his ownership in India's largest airline, which has a market share of roughly 54%, if shareholders... Read More

July 17th, 2019 11:16 AM 0 COMMENTS

Total Line of Credit Secured by IndiGo Surpasses Rs 2,500 Crores in April-June Period

Interglobe Aviation, which owns India’s largest airline, IndiGo has secured a line of credit since April worth Rs 2,577.75 crore This credit facility would help the airline in covering its working capital needs while also helping it to focus on expansion. Back in June, the IndiGo had signed a $20 billion agreement with CFM International, the popular aircraft engine manufacturer and as part of this agreement, IndiGo has agreed to... Read More

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