Synopsis:
IndiGo CEO Pieter Elbers has announced plans to consistently expand the airline's fleet by adding one aircraft per week over the course of several years. This ambitious growth strategy reflects IndiGo's commitment to scaling up its operations and increasing its market presence in the aviation industry.
Earlier this week, InterGlobe Aviation, the parent company of IndiGo, witnessed a significant increase in its after-tax profit, surging from Rs 1,422.6 crore in the year-ago period to Rs 2,998.1 crore in the December quarter, more than doubling the figure.
With a successful streak of five consecutive quarters of record profits, IndiGo CEO Pieter Elbers revealed plans to introduce a new aircraft weekly to extend both domestic and international routes. The airline, having made a historic order of 500 aircraft from Airbus at the 2023 Paris Air Show, currently operates 176 A320neo out of its fleet of 334 aircraft. IndiGo noted an increase in grounded aircraft, from mid-40s in October 2023 to mid-70s at present.
Earlier this week, InterGlobe Aviation, the parent company of IndiGo, witnessed its after-tax profit more than double to Rs 2,998.1 crore in the December quarter from Rs 1,422.6 crore in the corresponding period of the previous year.
In a CNBC TV18 interview, Elbers mentioned around 1,000 pending deliveries, expressing plans to receive a new plane every week for many years to come. He emphasized this as a reflection of Indigo's growth potential aligning with India's overall growth.
During an earnings call, IndiGo CFO Gaurav M. Negi reported a current fleet on the ground in the mid-70s, a slight improvement from previous estimates.
"We anticipate improvement in the situation in the next few quarters," he mentioned, emphasizing the effectiveness of the measures taken to address the challenges.
As of now, IndiGo operates 176 A320neo out of its 334-aircraft fleet, with over 40 aircraft currently grounded due to P&W engine issues. At the end of December 2023, the airline's fleet consisted of 358 aircraft, including 31 A320 ceos (11 on damp lease), 184 A320 neos, 94 A321 neos, 44 ATRs, 3 A321 freighters, and 2 B777s.
