Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

New Delhi, Jan 27 () InterGlobe Aviation, parent of the country's largest airline IndiGo, on Monday announced redesignating Ronojoy Dutta as the company's whole-time director and CEO.
 Dutta, who is currently the CEO, has been redesignated with immediate effect and his term in the new role would be valid till January 23, 2024, according to a release.
 "The decision was taken unanimously by the board of directors of the company at its meeting held today (Monday)," it added.
 Dutta has been associated with the company as CEO since January 24, 2019.
 "During his year-long stint with the company, IndiGo has witnessed aggressive operational and business expansion.
 "Dutta's extensive experience in the aviation industry channelled IndiGo's efforts into a mission to boost economic growth and social cohesion in India, by providing air connectivity and affordable air fares across our country and to international destinations, thereby promoting trade, tourism and mobility," the release said.
 He had also served as an advisor to the restructuring of Air Canada, US Airways and Hawaiian Air. Besides, he had been the president of Air Sahara and the United Airlines.
 With a fleet of more than 250 planes, IndiGo operates over 1,500 flights daily. RAM IAS HRS

IndiGo redesignates Ronojoy Dutta as whole-time director & CEO

<div class="KonaFilter image-container display-table"><div><div class="image on-image">IndigoIndigo's grow room.</div></div></div>Over the past several years, scientists have realized that the human microbiome - the catch-all term for the micro-organisms living inside us and on our skin - plays a key role in maintaining health. Our microbes, it turns out, can impact everything from weight to whether a person gets <a href="http://www.ncbi.nlm.nih.gov/pubmed/25538312">diabetes</a> or <a href="http://www.nature.com/nrc/journal/v13/n11/abs/nrc3610.html">cancer</a>. It's not just humans that rely on a healthy microbiome. Plants do too - and just as researchers have started coming up <a href="http://www.cnbc.com/2015/06/19/medicines-next-frontier-the-microbiome.html">with treatments</a> to heal the human microbiome, companies are now doing the same for plants. By adding probiotics to crops, the thinking goes, farmers can look forward to better yields without using any pesticides or GMOs.A startup called Indigo is now offering microbe-enhanced crops to farmers. First up: cotton coated with a microbe that can improve yield in drought conditions. Indigo started selling to customers during the spring as they were planting cotton seed; the product is now planted on over 50,000 acres in Texas and four surrounding states.In earlier trials, coated seeds improved yields by 10% compared to uncoated seeds. Indigo doesn't yet know if that's the case for the seeds planted in the spring. But if it is, it's a potentially big deal in the numerous states that have struggled with drought in recent years."Microbes have evolved for hundreds of millions of years with plants. That worked until the advent of agricultural chemicals - pesticides, herbicides, fungicides. It's not that those technologies were bad, but we didn't understand we were also killing off the beneficial stuff," says Indigo CEO David Perry.Indigo identifies beneficial microbes and adds them to the plants in the hopes that crops will have higher yields and become more resistant to disease.In order to find those microbes, the company does DNA sequencing for thousands of plant samples from all over the world. Then it creates and runs algorithms to predict which microbes will work best under various conditions.This wouldn't have been possible even two or three years ago because sequencing was so expensive. But costs are dropping quickly, which is good news for Indigo's future products.Indigo plans to test microbes that target numerous problems, including nutrient stress, insect infestations, and excess salt in the soil. Drought-resistant microbes came first since water stress is such a huge problem and existing tools don't help much."There's no chemical you can spray on a plant to have it perform better when it doesn't have enough water," says Perry.There's no set price for Indigo's products; farmers pay a third of the additional value created by the microbe-coated seeds (plus a small upfront cost for seeds). So if Indigo Cotton boosts yield by 10%, the company wants a third of that. The price structure is indicative of the company's faith that its products will actually do what they're intended to do."Someday we'll look back and say 'Thank God we don't have to put pesticides on thousands of acres anymore,'" says Perry. "But that will be in 20 or 30 years." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/spacex-falcon-heavy-3-rocket-landing-2016-7">SpaceX is about to try its most ambitious landing ever</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="53c2t1NDE6nMLn_Kltn8cOElakTG4doz" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Plants have a microbiome just like humans - and it could transform how our food is produced

<ul class="summary-list"><li>Indian budget airline IndiGo says it's letting some female travelers avoid sitting next to men.</li><li>An online tool color-codes some of the seats, the airline's CEO, Pieter Elbers, said.</li></ul>The CEO of Indian budget airline IndiGo says a booking tool test that lets women avoid sitting next to men on flights is getting some positive responses on social media.<a target="_blank" href="https://www.cnbc.com/video/2024/07/30/indigo-ceo-on-decision-to-allow-women-to-choose-not-to-sit-next-to-men.html">In an interview with CNBC</a>, IndiGo chief Pieter Elbers said the test has "resounded very, very well" — though the airline is still looking into whether it has increased female travel.<a target="_blank" class="" href="https://www.cnbc.com/2024/08/07/indigo-allows-women-to-avoid-booking-seats-next-to-men-on-flights.html">According to CNBC</a>, the test kicked off in May across all IndiGo flights to make female passengers feel more comfortable.To book a ticket, customers first select a gender. On a subsequent seat selection page, <a target="_blank" href="https://x.com/ssjoshssjosh/status/1795695816050680283">female travelers see</a> <a target="_blank" href="https://x.com/khabri_lal/status/1795320547636867262">pink seats</a> to designate where other females are seated, according to CNBC.The visuals are not available to male passengers, according to the outlet.The tool did not appear when Business Insider tried to make a booking. IndiGo did not immediately respond to a request for comment from BI.Elbers told CNBC that the test embodies the philosophy of 18-year-old IndiGo — which <a target="_blank" href="https://www.businessinsider.in/business/corporates/news/indigo-launches-business-class-service-for-first-time-in-18-years/articleshow/112285550.cms">just launched business class service</a> for the first time — to be a "courteous and hassle-free service."However, some social media users on X jeered the test for promoting a "<a target="_blank" href="https://x.com/Mumbaikar40/status/1795786722573205928">culture of segregation</a>." Others wondered how it would apply to passengers <a target="_blank" href="https://x.com/nomadicoyster/status/1795754960426319996">with different gender identities</a>."I know this seemed bizarre to the western folks," <a target="_blank" href="https://www.reddit.com/r/india/comments/1em2wsj/comment/lgw6enf/?utm_source=share&amp;utm_medium=web3x&amp;utm_name=web3xcss&amp;utm_term=1&amp;utm_content=share_button">one Redditor wrote</a>, "but I think people in this country would at least understand why this provision exists."Female solo travelers face unique <a target="_blank" href="https://www.businessinsider.com/safety-tips-from-female-solo-traveler-all-50-states">safety</a> <a target="_blank" href="https://www.businessinsider.com/best-solo-travel-safety-tips-from-frequent-female-traveler-2023-11">concerns</a>. In a travel advisory, the US State Department urges all travelers not to go to India alone, "<a target="_blank" href="https://travel.state.gov/content/travel/en/traveladvisories/traveladvisories/india-travel-advisory.html">particularly if you are a woman</a>."IndiGo <a target="_blank" class="" href="https://www.goindigo.in/about-us.html?linkNav=About%20us%7CCOMPANY%7CFooter">says</a> it's the largest airline in India, with 2,000 daily flights that connect more than 110 destinations. The company said it pulled in $8.2 billion in revenue in 2023.

Airline says it's testing a booking tool that lets women select seats away from men

<ul><li><keyword id="226149" type="PERSON" weightage="20" keywordseo="Publicis-Groupe">Publicis Groupe</keyword> India is integrating <keyword id="1024509" type="COMPANY" weightage="20" keywordseo="Indigo-Consulting">Indigo Consulting</keyword>’s digital marketing teams with <keyword id="348669" type="COMPANY" weightage="20" keywordseo="Publicis-Worldwide">Publicis Worldwide</keyword>.</li><li>Indigo Consulting will continue as a specialist brand within Publicis Groupe under the leadership of Rajesh Ghatge and Jose Leon; it will keep its focus on <keyword id="3469376" type="COMPANY" weightage="20" keywordseo="Digital-business-transformation">Digital Business Transformation</keyword> (DBT) solutions.</li></ul>Publicis Groupe today announced the integration of Indigo Consulting’s digital marketing teams with Publicis Worldwide, thereby creating a strong 300-member agency capable of providing the entire suite of brand building communication services from strategy to creative across mainline, digital &amp; social, with data at the centre. In turn, Indigo Consulting under the leadership of Rajesh Ghatge (CEO) and Jose Leon (COO) will continue to build on its core strengths and further invest in our deep tech capabilities. Building on its two-decade long experience, and the reputation of being a top-ranked digital transformation company, it will aggressively expand its’ capabilities and strategic alliances across the tech ecosystem to deliver Tech products, and solutions across Enterprise, Experience, Data, Commerce and Marketing domains for the Groupe’s clients. Speaking of the move, <keyword id="937472" type="PERSON" weightage="20" keywordseo="Anupriya-Acharya">Anupriya Acharya</keyword>, Group CEO, South Asia said, “This made imminent sense to us. Communication services are no longer segregated by platforms, i.e., creative agencies for mainline platforms and digital agencies for digital platforms. More and more clients want to work with one agency that can offer holistic strategic &amp; creative solutions to solve their marketing problems. In fact, the pandemic has only heightened the need to have digital at the center of our solutions approach.” <keyword id="212022" type="PERSON" weightage="20" keywordseo="Subhash-Kamath">Subhash Kamath</keyword>, CEO, BBH &amp; Publicis Worldwide said, “I see it as a win-win for everyone. The Indigo digital communications teams have already been working alongside the PWW teams across many of our top clients. By bringing them together under a common leadership, we can now provide our clients a more integrated solution and a more seamless brand custodianship. It’s a transformative move.” Russell Barrett, CEO &amp; Chief Creative Officer, BBH &amp; Publicis Worldwide said, “We need to be absolutely modern and future-facing when it comes to the creative work we produce and digital has to be at the heart of it. I don’t see traditional and digital work needing separate thinking. I want our creative leaders to be able to think across all platforms in answering a brand’s needs. By the coming together of these two teams, it’s a potent force of talent.” Rajesh Ghatge, CEO, Indigo Consulting said, “The tremendous traction that we have got for our digital business transformation and technology practice in the last year has propelled our plan to invest disproportionately to scale this practice. We are making a choice to focus (back) on our DNA. The top ranked digital marketing practice that we had built over the last few years, hence forth being housed in PWW will continue to deliver impactful cross-platform digital marketing solutions for the composite client roster. It is a win– win for our transitioning team, PWW, and our clients."

Publicis Groupe integrates Indigo Consulting’s digital marketing teams with Publicis Worldwide

<ul><li>Investors rushed to Zerodha as two exciting IPOs⁠— from IRFC and Indigo Paints⁠— were open for subscription.</li><li>CEO Nithin reportedly admitted that the systems were down for a bit, but not completely crashed.</li><li>Zerodha has nearly 3 million users, <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms">as per data</a> in September 2020, and is the largest institutional broker in the country.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>. </li></ul>India's largest institutional broking firm Zerodha’s platform crashed during the peak market hours on Wednesday, as users rushed to place orders for the two hot initial public offers in the market — Indian Railway Finance Corporation and Indigo Paints. Furious investors complained on Twitter as the website restricted them from applying for the IPOs. Zerodha currently owns the largest share of the pie in the institutional broking industry and has nearly 3 million users, <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms">as per data</a> in September 2020. Zerodha’s CEO Nithin Kamath <a href="https://economictimes.indiatimes.com/tech/tech-bytes/users-complain-of-zerodha-outage-as-indigo-paints-ipo-opens/articleshow/80362725.cms">told ET</a> that the systems were down for a bit, but not completely crashed. “Multiple tries would have worked. The IPO has a lot of people trying to apply at the same time. It is slow, but working,” he added. Business Insider reached out to Zerodha for comments but we are yet to receive a response. <div type="twitter" handle="real_manikant" handlename="Manikant" image="http://pbs.twimg.com/profile_images/1348894458952130561/HZ-T19JA_normal.jpg" favoritecount="66" retweetcount="6" status="Come on #zerodha. This is not the first time it's happening. Since morning the Console is down. What are you guys d… https://t.co/3gXgQomop8" createdat="1611128077000" id="1351795251791319041"></div> <div type="twitter" handle="1Riteshgupta_" handlename="Ritesh" image="http://pbs.twimg.com/profile_images/1285920568768737280/v3_ytfeX_normal.jpg" favoritecount="1" retweetcount="0" status="@Nithin0dha @zerodhaonline why I can't buy / trade in bank nifty 33000 strike this week option contract. Very bad e… https://t.co/H4RShEBgre" createdat="1611137187000" id="1351833460512493568"></div> <div type="twitter" handle="Kishore64653096" handlename="Kishore K" image="http://pbs.twimg.com/profile_images/1193798534308364290/KCbNIV_i_normal.jpg" favoritecount="3" retweetcount="1" status="#zerodha completely disappointing on emergency situations. Not for the first time https://t.co/vrA29M2XPe" createdat="1611142108000" id="1351854099558330370"></div> According to the <a href="https://downdetector.in/status/zerodha/">Down Detector website</a>, the outage peaked around 11:15 am and normalised around 5 pm, when the market closed for IPO subscription. Hot bets — IRFC and Indigo Paints The investors have been going crazy as the IPO bonanza has lit up the street once again. The <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms">IRFC’s ₹4,634 crore IPO </a>concluded today with a subscription of a little over 3 times the offer value, and at the same time, Indigo Paints’ ₹1000 crore IPO opened for public subscription — the issue was subscribed fully within a few hours. Both the IPO received top recommendations from nearly all brokerages based on various factors from strong valuation to robust business growth and healthy financials. The<a href="https://www.businessinsider.in/stock-market/news/indigo-paints-1000-crore-ipo-to-open-on-january-20-in-india/articleshow/80248736.cms"> Indigo Paints’ IPO was hot in the grey market</a>, even before opening for public subscription. The grey market data showed that people were ready to pay a premium of ₹800-810 over the set price band of ₹1480 - ₹1490 per share. SEE ALSO: <a href="https://www.businessinsider.in/international/news/jack-ma-the-billionaire-founder-of-alibaba-and-ant-group-resurfaced-after-he-went-missing-in-china/articleshow/80360004.cms" data-type="tilCustomLink">Jack Ma resurfaces – Alibaba founder makes his first public appearance after he was feared to be “missing” for nearly two months</a> <a href="https://www.businessinsider.in/stock-market/news/why-indigo-paints-1000-crore-ipo-is-a-hit-even-before-it-opened-for-subscription/articleshow/80357759.cms" data-type="tilCustomLink">Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why</a>

Two smoking hot IPOs choke India's largest broking site Zerodha

<ul><li>The shares of <keyword id="6354706" type="COMPANY" weightage="20" keywordseo="IndiGo">IndiGo</keyword> fell by over 3% on Tuesday. </li><li>IndiGo currently runs two daily flights to China, which has seen cancellations reported PTI. </li><li>The <keyword id="44023" type="ORGANIZATION" weightage="20" keywordseo="airlines">airlines</keyword> parent company <keyword id="2351966" type="ORGANIZATION" weightage="20" keywordseo="InterGlobe-Aviation">InterGlobe Aviation</keyword> saw a twofold jump in profits of ₹496 crore.</li></ul>The <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> outbreak in China has spread panic across the world with hundreds and thousands of people delaying their trips. Indian airlines IndiGo has been at the receiving end of these cancellations. IndiGo currently runs two daily flights to China, which are on the receiving end of cancellations, reported PTI. The Coronavirus broke out in Wuhan, which is a big business centre in China. The shares of IndiGo fell by over 3% to trade at ₹1448.3 on Tuesday. This is in spite of the fact that the company reported good earnings for the third quarter, a day before. The airlines parent company InterGlobe Aviation saw a twofold jump in profits to ₹496 crore. In the same quarter the previous year, the company’ profits stood at ₹185.2 crore. "We started operations in 7 new international routes and 17 new domestic routes and operated a peak of 1,634 daily departures during the quarter. I am very enthusiastic about the way we have been developing our network, connecting cities large and small to provide more choice to our customers," IndiGo CEO Ronojoy Dutta said. However, IndiGo is not the only one to be facing issues as airlines across the world are offering free cancellations to trips to China. See Also: <a href="https://www.businessinsider.in/business/news/air-india-may-opt-for-a-bsnl-like-voluntary-retirement-scheme-to-shed-employee-cost-along-with-debt/articleshow/73692818.cms?src=hp_wh">Air India may opt for a BSNL-like voluntary retirement scheme to shed employee cost along with debt</a>

Coronavirus takes the wind out of IndiGo – shares tumble despite a 200% jump in profits

<ul><li><keyword id="6354706" type="DEFINITION" weightage="20" keywordseo="IndiGo">Indigo</keyword>’s shares fell by nearly 4% within the first hour of trading today on reports that the founders of India’s largest airline were clashing over its future. </li><li>A report by ET found that the airline’s two founders - Rahul Bhatia and Rakesh Gangwal - were having serious disagreements over their visions for Indigo, and that there was a possibility that the <keyword id="45001" type="PERSON" weightage="20" keywordseo="dispute">dispute</keyword> would end up affecting the airline’s operations. </li><li>For its part, Indigo has dismissed the reports as “speculation”. </li></ul> Indigo’s shares <a href="https://www.google.com/search?q=indigo+share+price&amp;rlz=1C1GCEU_enIN820IN820&amp;oq=indigo+share+pri&amp;aqs=chrome.0.0j69i57j0l4.5257j1j4&amp;sourceid=chrome&amp;ie=UTF-8">fell by nearly 4% </a>within the first hour of trading today on reports that the founders of India’s largest airline were clashing over its future. A report by <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/trouble-erupts-in-indigo-cockpit-over-flight-path/articleshow/69350649.cms">ET</a> found that the airline’s two founders - Rahul Bhatia and Rakesh Gangwal - were having serious disagreements over their visions for Indigo, and that there was a possibility that the dispute would end up affecting the airline’s operations. While there are said to be a number of issues that Bhatia and Gangwal disagree over, the primary sticking point related to specific clauses in the shareholders’ agreement. The dispute, which has escalated since the beginning of the month, is said to be in its early stages, although both founders have reportedly <a href="https://timesofindia.indiatimes.com/business/india-business/indigo-co-founders-in-dispute-hire-law-firms/articleshow/69350903.cms?from=mdr">hired law firms</a>. For its part, Indigo has dismissed the reports as <a href="https://www.business-standard.com/article/news-ians/report-of-rift-between-indigo-s-pormoters-surfaces-airline-calls-it-speculation-119051501552_1.html">“speculation”</a>. In an email to employees, Ronojoy Dutta, the CEO of Indigo's parent Interglobe <keyword id="31907" type="COMPANY" weightage="20" keywordseo="Aviation">Aviation</keyword>, reportedly said that Indigo's growth plans would be unchanged and that Indigo's management had the support of the governing board. That being said, Gangwal and Bhatia have had their differences over the years. Gangwal, a veteran of the US aviation market, has been the driving force behind Indigo’s expansion and international ambitions, which have translated into significant cash burn and unprecedented levels of plane orders. This has led to differences with the airline’s senior management, including President Aditya Ghosh, who<a href="https://www.business-standard.com/article/companies/why-indigo-s-aditya-ghosh-had-to-quit-firm-he-nurtured-for-almost-a-decade-118042900213_1.html"> left last year </a>after a turbulent set of final months. Bhatia, meanwhile, has spearheaded Indigo’s domestic operations, employing a more cautious growth plan. The next few months will be crucial for the airline. The suspension of <keyword id="6355247" type="UNKNOWN" weightage="20" keywordseo="jet">Jet</keyword>’s operations and Air India’s financial problems have left a sizeable chunk of the Indian aviation market up for grabs. SEE ALSO: <a href="https://www.businessinsider.in/as-jets-woes-mount-rival-airlines-cash-in-on-the-gap-in-indias-aviation-market/articleshow/68903591.cms">As Jet’s woes mount, rival airlines cash in on the gaps in India’s aviation market</a>

Indigo’s shares fall on reports of a clash between the airline’s owners

While most airlines are still figuring out the avenues to earn, move aside profit, IndiGo airlines has been quiet successful in creating history with its low-fare, short-haul strategy. Now, Indigo is planning to add 400 aircrafts to its existing fleet, and interestingly, it has received the government’s nod for the same. As reported by The Economic Times, this move by India’s largest carrier in terms of passengers flown may be a prelude to cross-border ventures. 
 Having entered the aviation market in 2006 with 100 <keyword id="6356166" type="COMPANY" weightage="80" keywordseo="Airbus">Airbus</keyword> A320s, this move of raising its fleet by 550 over a decade will be the biggest-ever fleet induction in the history of Indian aviation, reports the Economic Times. 
 "The current approval is to import 400 aircraft by 2025, which is over a ten-year period. They had applied for permission in December 2014 and have received in principle approvals for the same," a <keyword id="2574182" type="POSITION" weightage="80" keywordseo="senior-civil-aviation-ministry-official">senior civil aviation ministry official</keyword> told the ET. 
 
The airlines having the maximum domestic market share in Indian sky is known for surprising with bulk orders. Adding 180 in 2011 and another order of 250 aircraft last year with an option of 100 more, IndiGo has already imported 12 of the 150 planes from 2010 order. 
 Confirming this, an <keyword id="2786848" type="POSITION" weightage="80" keywordseo="Indigo-spokesperson">Indigo spokesperson</keyword> said that the approvals include 30 planes from the 2011 order and 250 planes ordered last year, with options to raise it to 350 if need arises. 
 Analysts feel that one of the reasons why Indigo is expanding its fleet size is because it is considering cross-border joint ventures. Kapil Kaul, India CEO of <keyword id="109712" type="ORGANIZATION" weightage="80" keywordseo="Centre-for-Asia-Pacific-Aviation">Centre for Asia Pacific Aviation</keyword>, a Sydney-based aviation consultancy firm told ET, " IndiGo possibly has strong global plans, which could include cross-border joint ventures. I could see IndiGo brand in other international markets. Further consolidating and increasing scale reflects high level of confidence in their brand, business model and execution capability." 
 
(Image : India Times)

There’s no stopping this airline! Beware, Jet, Air Asia!

<ul><li>Indigo’s parent company <keyword id="300127" type="COMPANY" weightage="20" keywordseo="Interglobe-Enterprises">InterGlobe Enterprises</keyword> has expressed its interest in acquiring the bankrupt Virgin Australia.</li><li>The company has said that it has signed an agreement to participate in the sale of the collapsed airline.</li><li>IndiGo had earlier denied reports that it is interested in placing a bid for the company.</li></ul>Just a few days after Indigo <a href="https://www.businessinsider.in/business/news/indigo-share-price-jump-after-airline-denies-interest-in-virgin-australia/articleshow/75688856.cms">denied</a> reports that it is interested in placing a bid for the collapsed airline Virgin Australia, its parent company InterGlobe Enterprises has now confirmed that it has signed an agreement to participate in the sale of the bankrupt airline. The stock fell nearly 2% on Friday (May 15), marking the third straight day of decline. <div type="image" title="Indigo share price chart" msid="75753279" hostid="261" caption="&amp;lt;p&amp;gt;Indigo share price in May 2020&amp;lt;/p&amp;gt;"></div> “As regards Virgin Australia, InterGlobe Enterprises has signed an agreement to participate in the sale process and is bound by the confidentiality requirements of that agreement. We are unable to say anything further at this stage.“ said InterGlobe Enterprises. <div type="Article" hostid="261" msid="75688856" title="IndiGo shares take off after airline denies interest in Virgin Australia" mstype="2" mssubtype="0"></div> Earlier on May 12, IndiGo denied reports that said it was in talks to acquire. “We deny the contents of these reports and would like to clarify that the Company has not formulated any indicative proposal, nor does it have any interest in this matter,” said a statement from IndiGo on Tuesday morning. IndiGo’s share price jumped by 2.66% after the announcement. Virgin Australia had filed for bankruptcy in April 2020 after its debts piled to $6.8 billion to over 12,000 creditors which includes employees. The company had requested the Australian government for financial aid, but its request was turned down, pushing its towards bankruptcy. The airline industry has been badly hit as the COVID-19 pandemic has grounded domestic and international planes. Due to the mounting losses, IndiGo had announced pay cuts for its employees. The company said that its senior employees would get a pay cut of upto 25% for 2020-21 and also rolled out a leave without pay plan. As per a Bloomberg report, Virgin Australia’s airline administrator Deloitte expects eight indicative offers, out of which, three will be shortlisted and asked to submit a binding offer. No other airline has expressed interest in Virgin Australia and InterGlobe Enterprises is expected to compete against asset management companies, private equities and investment firms for the bankrupt airline. See also: <a href="https://www.businessinsider.in/business/corporates/news/indigo-and-spicejet-await-rent-relief-thanks-to-crisis-at-boeing-and-airbus/articleshow/75657494.cms">IndiGo and SpiceJet await rent relief – thanks to crisis at Boeing and Airbus</a> <a href="https://www.businessinsider.in/business/corporates/news/after-goair-and-spicejet-indigo-cuts-salaries-for-employees-ceo-says-there-was-no-other-option/articleshow/75618031.cms">After GoAir and SpiceJet, IndiGo cuts salaries for employees ⁠— CEO says there was ‘no other option’</a>

IndiGo’s backflip takes shares down⁠— parent InterGlobe confirms it is looking to bid for the bankrupt Virgin Australia

<ul><li>The low-cost airline's profit hits a new record as jet fuel prices fall and competition decreases.</li><li>IndiGo's management said that the company managed to reduce its cost of fuel by 11%, even though the actual fall in aviation turbine fuel was much lesser.</li><li>IndiGo's Chief Executive Officer Ronojoy Dutta dismissed any significant benefit from the disappearance of Jet Airways from Indian skies.</li></ul> InterGlobe Aviation Ltd-owned India's biggest airline by market share, IndiGo, on Friday posted its highest ever quarterly net profit at ₹1,203 crore for the first-quarter of 2019-20. "Strong passenger revenues along with a sharp improvement in cargo performance were key drivers to this improved profitability. We are particularly pleased with this quarter because it demonstrated our ability to grow rapidly while simultaneously expanding our margin performance," the company's CEO, Ronojoy Dutta said. In a conference call with analysts, the management highlighted that its efforts in managing its fleet and routes led to a fall in fuel cost of 11% during the quarter whereas the actual fall in jet fuel was much lesser. "Going forward, obviously, this quarter the aircraft utilisation was a little lower due to some temporary issues. As that improves there will be some tailwinds in terms of fixed costs," Rohit Philip, the chief financial officer of IndiGo said. Sales jumped 42% to ₹9,420 crore and market share has steadily risen since rival Jet Airways went bankrupt and stopped flying. This has helped all airlines charge higher airfares while costs came down, helping their profits. However, Chief Executive Officer Ronojoy Dutta dismissed any significant benefit from the disappearnce of Jet Airways on the company's performance. IndiGo only got 35 slots vacated by Jet in the Mumbai airport and that's a small portion of the total 1400 slots IndiGo has. For fiscal year 2020, year over year capacity increase in available seat per kilometre is expected to be 30%, the company said in a presentation. SEE ALSO: <a href="https://www.businessinsider.in/indigos-share-price-crashed-10-7-to-1397-on-wednesdays-closing/articleshow/70158806.cms" data-type="tilCustomLink" target="_blank">IndiGo’s shares crash to a new low after a promoter alleges the other of governance violations</a>

IndiGo airline's profit hits a new record as jet fuel prices fall and ticket prices spike

New Delhi, Feb 26 () IndiGo on Wednesday said it has responded to all queries from markets regulator Sebi regarding related party transactions and asserted that they were entered into in the best interests of the company. InterGlobe Aviation, parent of the country's largest airline IndiGo, also said it has strong processes for ensuring arm's length dealings with related parties. On Tuesday, sources told that a preliminary probe by Sebi has suggested prima-facie violations of corporate governance and listing disclosure norms in certain related party transactions involving InterGlobe Aviation. In a statement, IndiGo Whole Time Director and CEO Ronojoy Dutta said it has not received any communication from Sebi regarding any outcome of any preliminary enquiry by the regulator. "Further, IndiGo strongly denies any allegations of wrongdoing or avoidance of processes. It reiterates that it has strong processes for ensuring arm's length dealings with related parties and that such transactions were entered into in the ordinary course of business and were in the best interests of IndiGo," he said. According to him, IndiGo has responded to all queries from Sebi regarding these matters and remains confident that its position would be accepted. "If and when Sebi conveys to IndiGo any outcome of an enquiry, IndiGo being confident of its compliance record, will deal with it appropriately," he added. IndiGo has been facing a probe by the Securities and Exchange Board of India (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. The watchdog has been conducting a thorough probe into the IndiGo matter. All agreements between the two warring founders as well as those between the company and its various investors and associates, including related parties, are being looked into by the regulator. The probe has suggested that some of the related party transactions could have been significant and required detailed disclosures and greater vetting by board committees comprising of independent directors, the sources had said. The differences between co-founders and co-promoters -- Rakesh Gangwal and Rahul Bhatia -- came to the fore in July 2019 after Gangwal sought market regulator Sebi's intervention to address alleged corporate governance lapses at the company. Bhatia has denied any wrongdoing. In the wake of the feud, arbitration proceedings are also going overseas between the two promoters' sides. Rakesh Gangwal (RG) Group and related entities together hold 36.64 per cent stake while Bhatia and affiliates -- InterGlobe Enterprises (IGE) Group -- have around 38 per cent shareholding in the company. Last month, InterGlobe Aviation's shareholders rejected a proposal of Rakesh Gangwal to amend the company's Articles of Association (AoA). Generally, an AoA provides the regulations for operating a company. After falling nearly 2 per cent during the day, shares of IndiGo managed to recoup the loss and closed with a gain of over 1 per cent on Wednesday. On the BSE, the scrip declined 1.74 per cent to Rs 1,352.65 in early trade and later settle 1.49 per cent higher at Rs 1,397.25. RAM MRMR

You Searched For "Indigo CEO" and got 11 results

IndiGo redesignates Ronojoy Dutta as whole-time director & CEO

PTI

Plants have a microbiome just like humans - and it could transform how our food is produced

Ariel Schwartz

Airline says it's testing a booking tool that lets women select seats away from men

Geoff Weiss

Publicis Groupe integrates Indigo Consulting’s digital marketing teams with Publicis Worldwide

BI India Partner

Two smoking hot IPOs choke India's largest broking site Zerodha

Navdeep Yadav

Coronavirus takes the wind out of IndiGo – shares tumble despite a 200% jump in profits

Sanchita Dash

Indigo’s shares fall on reports of a clash between the airline’s owners

BI India Bureau

There’s no stopping this airline! Beware, Jet, Air Asia!

BI India Bureau

IndiGo’s backflip takes shares down⁠— parent InterGlobe confirms it is looking to bid for the bankrupt Virgin Australia

Rounak Jain

IndiGo airline's profit hits a new record as jet fuel prices fall and ticket prices spike

Sriram Iyer

IndiGo says have responded to all Sebi queries on related party transactions

PTI

Popular Keywords

Buying Guides