Economy

Who is Aditya Ghosh, what will IndiGo do without him: 5 points

Who is Aditya Ghosh, what will IndiGo do without him: 5 points”

It was Rs 5,141.99 crore in the year-ago period, according to a regulatory filing. "We will continue to manage our costs tightly and additional operations won't affect that", he said.

"We have reported our highest ever annual profits for fiscal 2018". The latter is linked to the company's supplementary lease rental liability with aircraft lessors.

Over the last two quarters, the company has purchased six twin-engine turboprop ATR aircraft, which it uses for flight operations under the government's regional connectivity scheme, Udaan.

Ghosh is leaving at a time when the airline is changing some of its most successful policies such as moving to a mixed fleet instead of operating a single aircraft class, buying planes outright instead of leasing them, and planning a new low-priced, long-haul service.

For the year ended March 2018, the company's total comprehensive income jumped to Rs 22.42 billion from Rs 16.56 billion in 2016-17.

"The key is to have the right cost structure in each market".

Budget carrier IndiGo's parent - InterGlobe Aviation - posted a 73 per cent decline in profit at Rs 117.96 crore in the three months ended March 2018 as rising fuel expenses crimped the bottom line.

The owner of IndiGo airlines had reported Rs 440.30 crore profit in the corresponding quarter previous year. Q3FY18 net profit also increased by 38.16% from Rs 551.55 crore in the preceding quarter (Q2FY18).

Ebitdar (Earnings before interest, taxes, depreciation, amortization and rent/restructuring costs) margin for the quarter for the quarter fell to 19.5 per cent from 29.9 per cent in the same period past year. "We continue to execute on our growth plans and are putting in place the management team to execute our plans", IndiGo Co-Founder and interim CEO Rahul Bhatia said. "Unfortunately, such an option is not available under the government's current divestiture plan of Air India".

While Bhatia will be interim chief executive officer of the airline, the company said Saturday it will consider naming Gregory Taylor as the new president and CEO. "We're also studying the choice of wide-body aircraft [for the long-haul operations] and will update you once we have made more progress".



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