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<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, 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

By Shah Imran Ahmed Mumbai, Mar 24 () Budget carrier IndiGo has assured its employees that it will not make any deduction in their salaries or leaves due to the suspension of domestic flights till March 31. The government's decision to suspend domestic flight would come into effect from midnight Tuesday, as part of larger efforts to curb spreading of coronavirus infections. In an e-mail to his employees, IndiGo Chief executive Officer Ronojoy Dutta said the company has "reasonable" level of advanced bookings for April and it was "anxious' to fly again albeit with a reduced capacity. "For those who don't have to be working during this temporary suspension of operations, we will make no deduction of salaries or leaves," Dutta said in the e-mail. has accessed the e-mail. Stating that the last few days have been very challenging for the airline, he said "clearly for the next few weeks our revenues will be well below our costs and we will have to make our efforts to penny-pinch and preserve cash". He also said that as employees "let us also be acutely cognizant of the fact that during this temporary suspension of operations, we will be spending our cash reserves to continue to pay salaries and benefits". Once this crisis is over, the airline will have to redouble its efforts to rebuild these cash reserves, Dutta added. IAS RAM DRRDRR

No salary deduction during domestic flights suspension period: IndiGo tells staff

New Delhi, <keyword id="6354706" type="COMPANY" weightage="20" keywordseo="IndiGo">IndiGo</keyword> on Wednesday said it has reached 70% of its pre-COVID capacity and is operating 1,000 daily international and <keyword id="6391001" type="UNKNOWN" weightage="20" keywordseo="domestic-flights">domestic flights</keyword>. India resumed domestic passenger flights on May 25 after a gap of two months due to the coronavirus-triggered lockdown. At the time of resumption, the government had allowed airlines to operate not more than 33% of their pre-COVID domestic flights. In the subsequent months, this limit was gradually increased and it currently stands at 70%. Ronojoy Dutta, Chief Executive Officer, IndiGo said, "We are currently operating at around 70% of our pre-COVID capacity and we hope that the growth will continue into 2021." "From zero domestic and <keyword id="426378" type="ORGANIZATION" weightage="20" keywordseo="international-operations">international operations</keyword> to now operating 1,000 scheduled <keyword id="148415" type="PERSON" weightage="20" keywordseo="commercial-flights">commercial flights</keyword> daily, we have indeed come a long way since we resumed operations post the lockdown," he said in a statement. Earlier in June, Dutta had told in an interview that IndiGo was aiming to operate 70% of its pre-COVID flights by the end of this year. Currently, the budget carrier is operating 100-130 scheduled flights from three key metro cities -- Delhi, Bengaluru and Hyderabad. IndiGo, India's largest airline, operated around 1,500 daily flights before the pandemic hit. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/burger-king-grey-market-premium-and-heres-what-brokerages-say-about-the-ipo-opening-tomorrow/articleshow/79508730.cms?upcache=2">Burger King India IPO opens today — brokerages recommend ‘subscribe’ on attractive valuations</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-dr-reddys-lab-reliance-power-hero-moto-eicher-motors-tvs-motor-phoenix-mills-coal-india-and-others/articleshow/79521982.cms">Top stocks to watch — Dr Reddy’s Lab, Reliance Power, Hero Moto, Eicher Motors, TVS Motor, Phoenix Mills, Coal India, and others</a>

IndiGo reaches 70%  of its pre-COVID capacity, operating 1,000 daily flights

New Delhi, Jan 27 () InterGlobe Aviation on Monday reported a steep rise in profit after tax at Rs 496 crore in the three months ended December 2019, mainly helped by higher income.
 The parent of the country's largest airline IndiGo had a profit after tax of Rs 185.2 crore in the year-ago period, according to a regulatory filing.
 Its total income climbed to Rs 10,330.2 crore in the latest December quarter from Rs 8,229.3 crore in the corresponding period a year ago.
 "I am 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.
 At the end of the December quarter, the airline had a fleet of 257 planes. RAM IAS HRS

InterGlobe Aviation Q3 profit soars to Rs 496 cr

New Delhi, Nov 17 () With strong fundamentals, India's civil aviation sector is in its "golden age" and there is also healthy competition among domestic carriers, IndiGo CEO Ronojoy Dutta has said.
 Interestingly, the country's civil aviation sector has been experiencing lower growth in traffic compared to previous years and there has also been softness in fares in October, according to industry experts.
 The traffic grew just 1.18 per cent in September, as per the latest available official data.
 IndiGo, owned by InterGlobe Aviation, is the country's largest airline with a market share of 48.2 per cent in September.
 While acknowledging that there are problems, including high taxes on jet fuel, Dutta said there are huge opportunities going forward.
 "We are in the golden age of Indian aviation and there are huge opportunities going forward... There are always problems, there are always issues and economic cycles. (But) The fundamentals are strong," he told in an interview.
 According to him, tax on aviation turbine fuel (ATF) is 30 per cent higher than rest of the world.
 Bringing ATF under the Goods and Services Tax (GST) has been a long pending demand of the airline industry.
 "Then there are throughput charges for which we should be getting credit for taxes paid," he added.
 IndiGo has been aggressively expanding its operations and has started 11 overseas routes in the last one year. Recently, it placed an order for 300 more planes from Airbus and is also considering wide-body aircraft for long haul routes.
 On whether there is healthy competition among local carriers, Dutta replied in the affirmative.
 "We have a commonality of interests. Airlines around the world have commonality (of interests). It extends to ATF taxes, infrastructure issues. In terms of who gets which rights and who flies where, it is all fierce competition," he noted.
 He also made it clear that there are no plans for a loyalty programme for passengers.
 "We have studied it. We have rejected that option... It is too expensive. We are a low cost carrier and we have to keep our costs low," Dutta said.
 When asked whether passenger volumes could balance the costs arising out of a loyalty programme, the IndiGo chief replied in the negative.
 "We have the volumes already. The question is will the incremental volumes pay for it. Given the cost, the incremental volumes do not pay it," he noted.
 In September, the carrier flew 55.59 lakh passengers. RAM ABM
ABM

'Golden age' for Indian aviation sector; fundamentals strong: IndiGo chief

Mumbai, Jan 27 () India's largest budget carrier IndiGo said on Monday it has seen some cancellations on its flight to China, which is hit by Coronavirus outbreak.
 IndiGo currently runs two daily direct flights to China, one is on Delhi-Chengdu route and another is on Kolkata-Guangzhou route.
 "The virus situation is obviously being monitored very closely. And, we have seen some cancellations as well," IndiGo Chief Executive Officer Ronojoy Dutta said during the post-Q3 earnings analysts call.
 He, however, said the airline has not yet taken a decision on the capacity adjustment so far in the aftermath of the outbreak.
 "But, as you can see, this is an ever-evolving story. So, every day, we have a conference call talking to all our people, especially in China. And, we are looking at how our bookings (and) based on that (we) will take a decision," he added.
 He said that while the east-bound traffic has been affected, the west-bound traffic in fact has seen an uptick as the people are coming out of China.
 "So, we seem to pick up on that, but equally we have seen the cancellation going into China. So, these are still early days and we are monitoring closely," he added.
 He said that IndiGo had revised downward its capacity forecast to 20 per cent for 2020-21 from 25 per cent projected earlier as the aircraft deliveries from Airbus are slower than the airline anticipated.
 "Our fourth quarter is off to weak start because of the engine changes and all that. And, after June, we will really ramp up the aircraft utilisation. So, it is weak in the first quarter...and then ramp up towards the end. So, it is the aircraft utilisation which is driving this on the engine issue. We've had some delivery delays as well from Airbus. So, it's a combination of both," Dutta said.
 He said IndiGo had "very good" contracts with both Airbus and engine maker Pratt &amp; Whitney, adding that "we have good contracts in terms of compensation and we will pursue them vigorously". IAS HRS

IndiGo witnesses some cancellations on flights to China due to Coronavirus outbreak

<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

By Deepak Patel New Delhi, Mar 19 () IndiGo CEO Ronojoy Dutta announced on Thursday that the airline was instituting pay cuts for senior employees and he would himself take the highest cut of 25 per cent amid the novel coronavirus pandemic that has hit the aviation industry hard. "With the precipitous drop in revenues, the very survival of the airline industry is now at stake," Dutta said in his email to employees. "We have to pay careful attention to our cash flow so that we do not run out of cash." "With a great deal of reluctance and a deep sense of regret, we are therefore instituting pay cuts for all employees, excluding Bands A and B, starting April 1, 2020," the chief executive officer said. Band A and B are the lowest brackets in salary class, where most of the employees are. "I am personally taking a 25 per cent pay cut, SVPs (senior vice presidents) and above are taking 20 per cent, VPs (vice presidents) and cockpit crew are taking a 15 per cent pay cut, AVPs (assistant vice presidents), Bands D along with cabin crew will take 10 per cent and Band Cs five per cent," Dutta noted. The CEO said he knew how hard it was for families to take a cut in "take-home pay". DSPHMB

IndiGo announces pay cut for senior employees, CEO takes 25% cut

New Delhi, Nov 14 () Amid ongoing feud between the airline's promoters, IndiGo CEO Ronojoy Dutta on Thursday said there is "zero impact" on the carrier right now as they are on the same page over the airline's strategic direction.
The differences between co-founders and co-promoters -- Rakesh Gangwal and Rahul Bhatia -- came to the fore in July after Gangwal sought market regulator Sebi's intervention to address alleged corporate governance lapses at the company.
They are the promoters of InterGlobe Aviation which operates IndiGo, the country's largest airline in terms of domestic market share.
About the feud, Dutta said as far as the airline is concerned, it was only directly involved in the Related Party Transactions (RPTs).
"That has been resolved completely... Now that RPTs have been removed from the table, we have no more interest in this matter," he told in an interview here.
In the wake of the allegations, the company has also came under the lens of Sebi and the corporate affairs ministry.
"Right now, it (promoters' feud) has zero impact. When the RPT issue was there, we were involved. Now, they are doing what they do, and that doesn't affect us at all," he said in response to a query about the warring promoters.
According to Dutta, there are some issues between the promoters but that is not affecting the airline.
"If two of the promoters are having a side discussion on some agreement signed 12 years ago, it doesn't affect us at all.
"It is not a overhang on the company because they agree on the direction of the company... there is such unity of view on the strategic direction of the company, really there is no controversy," he emphasised.
On whether there are concerns about corporate governance ways at the company, Dutta replied in the negative.
"Not a concern because the only governance issue was that of RPTs. Otherwise, we are functioning smoothly as a well orchestrated board. Very professionally run," he said.
On October 1, InterGlobe Enterprises and Bhatia sought arbitration proceedings in the shareholders' agreement, dated April 23, 2015. The pact was amended on September 17, 2015.
The agreement was executed between Bhatia's InterGlobe Enterprises Group (IGE Group), Gangwal, the Chinkerpoo Family Trust, Shobha Gangwal -- the RG Group -- and InterGlobe Aviation. RAM BAL
BAL

Promoters' feud has 'zero impact' on IndiGo, says CEO

By Shah Imran Ahmed Mumbai, Mar 24 () Budget carrier IndiGo has assured its employees that it will not make any deduction in their salaries and leaves due to the suspension of domestic flights till March 31 in the wake of coronavirus lockdown.The assurance came a day after the Narendra Modi government issued an advisory to both private and public companies to not lay off employees or cut their salaries, in the wake of the coronavirus crisis.The government's decision to suspend domestic flight till March 31 would come into effect from midnight Tuesday, as part of larger efforts to curb spreading of coronavirus infections.In an e-mail to his employees, IndiGo Chief executive Officer Ronojoy Dutta said the company has "reasonable" level of advanced bookings for April and it was "anxious'' to fly again albeit with a reduced capacity."For those who don't have to be working during this temporary suspension of operations, we will make no deduction of salaries or leaves," Dutta said in the e-mail. has accessed the e-mail.He said that the airline plans to commence the domestic operations from April 1, subject to no further extension of the government order.It may be mentioned here that global aviation consultancy CAPA on Monday said domestic air services are likely to remain suspended beyond March 31 in the wake of the coronavirus pandemic. Later in a statement, he also said that the airline would not be charging any fee for cancelling tickets that are up to April 30, and it would store the ticket price as credit on that PNR, which can be used for alternative booking up to September 30. According to Dutta, IndiGo has reasonable level of forward bookings for April "so we are anxious to start flying again, although it will be a reduced capacity."Stating that the last few days have been very challenging for the airline, he said "clearly for the next few weeks, our revenues will be well below our costs and we will have to make our efforts to penny-pinch and preserve cash".He also said that as employees "let us also be acutely cognizant of the fact that during this temporary suspension of operations, we will be spending our cash reserves to continue to pay salaries and benefits."Once this crisis is over, the airline will have to redouble its efforts to rebuild these cash reserves, Dutta added.The coronavirus has dealt the airline a 'hands of cards' it neither ask for or anticipate, he said."Now it is all up to us employees to play our cards not just well but superbly to restore the full confidence of our customers and share holders trust in us," the airline chief said. Moreover, Dutta, in the statement also stated that those passengers who are booked to travel till September 30, can change their itinerary at zero change fee, for travel up till September 30.The fare difference would have to be paid by the passenger during the time of alternative booking, he said. IAS MKJ

Coronavirus: IndiGo says no deduction in salaries, leaves of employees

<ul><li>Higher operating costs drove <keyword id="6354706" type="COMPANY" weightage="20" keywordseo="IndiGo">Indigo</keyword> into the red for the second quarter as it declared a net loss of ₹1,064 crore. </li><li>The loss has widened from ₹651.5 crore it posted in the same quarter last year. </li><li>Ahead of its quarterly announcement, Indigo traded flat as it went up by 0.8% to ₹1,665, as per <keyword id="43628" type="CITY" weightage="20" keywordseo="Bombay-stock-exchange">Bombay Stock Exchange</keyword> (BSE).</li></ul>Higher operating costs drove Indigo into the red for the second quarter as its debt also swelled over seven times to ₹19,841 crore in one year. In the same period last year, its debt was at ₹2,641 crore. This is due to increased operating leases and higher maintenance costs It also declared a net loss of ₹1,064 crore. The loss has widened from ₹651.5 crore it posted in the same quarter last year. And, this is in spite of the fact that its revenue increased by 31% to ₹8,105 crore. 
 
 
 
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 “In a historically weak quarter, we registered a negative profit before tax margin of 12.7% compared to 16% margin loss registered in the same quarter last year,” said CEO Ronojoy Dutta. Ahead of its quarterly announcement, Indigo traded flat as it went up by 0.8% to ₹1,665, as per Bombay Stock Exchange (BSE). The results were announced after the market was closed. The stock has been taking a beating for the last one month due to rising fuel prices and declining passenger traffic. 
 
 
 
 
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 Indigo had a fleet of 235 aircraft and operated 1,437 daily flights during the quarter to 70 destinations including 17 international cities. 
 
 
 
 
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 Interglobe Enterprises promoters — Rahul Bhatia and Rakesh Gangwal — hold 74.8% stake in the company.

You Searched For "indigo ronojoy dutta" and got 12 results

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

Sriram Iyer

IndiGo redesignates Ronojoy Dutta as whole-time director & CEO

PTI

No salary deduction during domestic flights suspension period: IndiGo tells staff

PTI

IndiGo reaches 70% of its pre-COVID capacity, operating 1,000 daily flights

PTI

InterGlobe Aviation Q3 profit soars to Rs 496 cr

PTI

'Golden age' for Indian aviation sector; fundamentals strong: IndiGo chief

PTI

IndiGo witnesses some cancellations on flights to China due to Coronavirus outbreak

PTI

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

Sanchita Dash

IndiGo announces pay cut for senior employees, CEO takes 25% cut

PTI

Promoters' feud has 'zero impact' on IndiGo, says CEO

PTI

Coronavirus: IndiGo says no deduction in salaries, leaves of employees

PTI

Indigo debt has swollen by seven times in one year

Prerna Sindwani

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