Tag: IndiGo

IndiGo loses more than 10% in trade post disappointing Q4 results

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Interglobe Aviation stock plunged more than 13% in intraday trade after posting disappointing quarterly results on Wednesday. The stock lost a total of 10% in the market session on Thursday.

IndiGo’s profit plunged 73% in Q4 due to an increase in fuel prices, decline in yields and foreign exchange impact, the company said.

The stock, in the opening, dropped by more than 6% and then plunged to 15% in a couple of minutes.

The airline, India’s biggest in terms of the number of planes and passengers carried, posted a profit of Rs 440.3 crore a year ago.

Total expenses jumped 30.2% to Rs 5,891 crore, including a 33.5% increase in fuel costs in the January-March quarter.

IndiGo also had to cancel hundreds of flights in March when several in-flight engine failures prompted India’s aviation regulator to ground eight of the airline’s Airbus A320neo aircraft fitted with certain Pratt & Whitney engines.

The aviation company also recently accepted the resignation of Aditya Ghosh as their chief executive. Ghosh will continue to remain one of the directors of the company.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

InterGlobe Aviation Q4 profit plunges 73%, blames increase in fuel prices

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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InterGlobe Aviation, the operator of India’s largest airline IndiGo, reported a 73.3% fall in profit at Rs 117.6 crore due to an increase in fuel prices, decline in yields and the foreign exchange impact.

The airline, India’s biggest in terms of the number of planes and passengers carried, posted a profit of Rs 440.3 crore a year ago.

Total expenses jumped 30.2% to Rs 5,891 crore, including a 33.5% increase in fuel costs in the January-March quarter.

Revenue from operations increased to Rs 5,799.1 crore against Rs 4,848.2 crore for the last quarter, InterGlobe said in a statement.

Operating profit or EBITDA (earnings before interest, tax, depreciation and amortisation) was down 74.5% to Rs 129.8 crore against Rs 508.1 crore YoY.

IndiGo also had to cancel hundreds of flights in March when several in-flight engine failures prompted India’s aviation regulator to ground eight of the airline’s Airbus A320neo aircraft fitted with certain Pratt & Whitney engines.

The airline managed to transfer passengers to other flights, however, minimising revenue losses.

Revenue per available seat kilometre – a measure of its operating earnings – fell over three percent to Rs 3.40 in January-March.

Passenger yields, which gauge the average fare paid per mile per customer, dropped over five percent.

However, IndiGo expects a 25% rise in available seat kilometres, a measure of the airline’s passenger carrying capacity, in the fiscal year that began on April 1.

The company announced on Friday (April  27) that its president, Aditya Ghosh, would step down after 10 years with the company and it would consider naming Gregory Taylor, an airline sector veteran, as his successor in the coming months.

“We are positive on InterGlobe. However, given this significant miss in earnings, we will be revising our estimates and view based on what we hear on the call. High crude prices also remain a challenge,” said Madhukar Ladha, Analyst at HDFC Securities.

“Ended the quarter with a fleet of 159 aircraft and added a net of 6 aircraft including 3 ATR,” said the company.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Indi‘Go’ struggles to go

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Imagine you have a flight to catch which is scheduled to take off at 5:55 pm. As usual, you do your calculations and leave at a ‘safe time’ keeping the standard ‘two hour rule’ in mind. If you are a resident of a tier 1 city like Mumbai, you might also want to consider traffic.

With all the ‘strategically’ taken decisions, you make it to the airport almost on time. After standing in the queue for a few minutes to collect your boarding pass, the minute your turn comes, the airport staff informs you that your flight has been delayed by 45 minutes.

You take the boarding pass, stand in another queue for security check, head towards the waiting area, settle yourself, observe other passengers, scroll through your Facebook newsfeed, listen to music and finally see “boarding” pop up next to your flight number on the indicator.

You head to the gate, board the flight, settle yourself again, look at the co-passengers to your left, to your right, waiting for the flight to take off.

After all the ‘inflight announcements’, your flight is now ready to take off. You put on your seat belt and in a few minutes, the flight finally takes off.

However, as you turn the first page of the magazine kept in front, you hear an announcement informing that your flight has suffered a technical glitch and that it will be going back to the airport to make an emergency landing. What would it feel like? Surely, ‘disappointment’ would be an under-statement!

That is probably what the experience of the passengers of IndiGo flight 6E-395 was like, exactly two months ago.

On March 1, IndiGo’s Kolkata bound A320 neo aircraft had to return back to Mumbai airport for an emergency landing after taking off at a delay of almost 45 minutes.

According to reports, the flight which took off at 6:39 pm instead of its scheduled time 5:55 pm, suffered “high vibration” on one of its engines leading to a “stall” warning.

There has been quite some ‘turbulence’ in the functioning of India’s largest airline, with the constant replacement of the Pratt & Whitney engines on A320 neo’s for as many as 69 times since they were introduced in 2016.

During this 18-month period, IndiGo faced three cases of engine shutdown and three other cases of flight cancellation, after it was identified that the engines had serious technical issues.

The airline later had to withdraw three affected planes from service after a warning was issued by the European Aviation Safety Agency, mentioning  a new issue with the engines which could have been the reason behind the inflight shutdowns.

IndiGo, which accommodates four out of 10 Indian fliers, assured that their top priority was passenger safety, and they would not compromise with necessary engine replacements.

Despite the airline assuring of safety and the manufacturer of the engines, Pratt and Whitney, claiming that they are working towards creating new engines, the growing numbers of operational failures keep leaving the passengers concerned.

In the most recent incident, on April 27, the airline was forced to ground two of its Airbus A320 Neo planes due to technical glitches, and the two planes were taken out of operations.

On April 28, IndiGo announced that it had accepted the resignation of Aditya Ghosh as president and whole-time director, effective July 31, 2018 and April 26, 2018 respectively.

In March alone, IndiGo and GoAir experienced a number of ‘technical glitches’ and engine failure leading to the Directorate General of Civil Aviation (DGCA) grounding of as many as 11 aircraft running on Pratt and Whitney engines.

IndiGo owned eight of the 11 grounded aircraft, whereas, three were operated by GoAir.

Though IndiGo has started receiving the replaced engines from March 21  which helped the airline get some of its planes back in action, it’s too soon to say if it has restored the faith of its passengers.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Engine glitches again hit two IndiGo A320 Neo planes

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The engine troubles hit budget carrier IndiGo again with the airline forced to ground two of its Airbus A320 Neo planes due to technical glitches, according to a source.

The two Pratt & Whitney engine-powered A320 Neo planes were taken out of operations on Friday, the source said.

IndiGo, which had to ground 11 A320 Neos between February and March this year due to safety concerns, confirmed that it had pulled out two of its planes from the service.

>>Exclusive: “Better to walk when people ask why rather than when people say why not,” says Aditya Ghosh on exit from IndiGo

The airline further said that the two planes are back into operations now.

Significantly, the airline had earlier this month said all its aircraft, which had been taken out of service following directives of the European aviation safety regulator Easa and India’s Directorate General of Civil Aviation (DGCA), were back into flying after the change of engines by the US engine supplier Pratt & Whitney.

“IndiGo was forced to ground two A320 Neo planes on Friday due to engine glitches. While one aircraft was grounded at Ranchi due to oil leakage, the other one was taken out of service at the Dibrugarh airport as its fire warning system had stopped functioning,” the source said.

When contacted, an IndiGo spokesperson said while one A320 Neo was grounded due to a false warning in the cockpit, another one was taken out of service due to a minor oil leak.

Both the aircraft are back into flying now, the spokesperson said, adding that the grounding of these planes did not take place on account of known ‘PW’ issues but due to day-to-day issues of “operational nature”.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Exclusive: “Better to walk when people ask why rather than when people say why not,” says Aditya Ghosh on exit from IndiGo

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In his first comments after deciding to exit IndiGo, Aditya Ghosh, president and whole-time director, said it is better to walk when people ask why rather than when people say why not, adding that he is overwhelmed by the hundreds of messages he has received since the move was announced late on Saturday.

Ghosh was responding to a query by CNBCTV18.com on the reasons for his sudden exit. “I am overwhelmed with the messages. I will be forever grateful for that love,” he told CNBCTV18.com.

On Saturday, IndiGo announced that it has accepted the resignation of Ghosh as president and whole-time director effective July 31, 2018 and April 26, 2018 respectively.

India’s largest airline by the number of planes and passengers carried has named founder Rahul Bhatia as interim chief executive officer. Bhatia will continue as a director, IndiGo said.

In a letter to employees, Bhatia said Ghosh “wishes to explore starting a new business venture.” Ghosh told CNBCTV18.com that he is not ready to talk about the venture yet.

Ghosh has always come across as an IndiGo lifer and his exit has caught the industry by surprise.

Industry chatter attributes the reason for Ghosh’s exit to the string of appointments of expats IndiGo has made in recent months.

Bhatia declared that Ghosh will be replaced by Greg Taylor “in the coming months, subject to receiving necessary regulatory approvals and paperwork”.  In January, IndiGo named Wolfgang Prock-Schauer as chief operating officer as it began to prepare for launching long-haul international operations. The airline has also recruited Willy Boulter, a 30-year veteran who previously worked in Gulf Air, Virgin Atlantic Airways and South African Airways, as chief strategy officer and Michael Swiatek as chief planning officer.

A senior executive of a rival airline said Ghosh’s departure was not a surprise given the number of expats IndiGo has hired and how fragmented the senior leadership roles were becoming. “It seemed there was not much left for him (Ghosh) to do,” he said, asking not to be named.

“They (IndiGo) have had a parallel team in place for a long time,” said a senior executive of another airline. He too did not want to be named.

Ghosh said there is no truth to this chatter. “Well, they (the expats) all report into me. We have been saying for one and a half years now that we will have to build the team,” he said, adding that his relationship with the founders is more than just the CEO.

IndiGo did not comment for this article.

Ghosh was indeed close to IndiGo founders, Rakesh Gangwal and Bhatia, veterans of the airline and travel industries.  Ghosh, who is a lawyer by profession, was handpicked by the founders to lead the airline three years after launch despite his non-aviation background. Until then, IndiGo was helmed by Bruce Ashby, another veteran of the aviation business.

Ghosh, who holds a post graduate degree in Law from Delhi University, joined IndiGo as an advisor after its inception in 2006. He joined the board on May 30, 2007 and was named president in August 2008 at 32.

Ghosh, who is called ‘Vakil’ within IndiGo, was selected for his ability to connect with employees and leadership qualities, but these would suffice when IndiGo was a fledgling airline. Today, it is truly a big airline.

New Airline, New Leadership

In Ghosh’s own words, IndiGo has grown from 18 airplanes ten years ago to over a 160 today. It flies more than a thousand daily flights and its top line has increased eight-fold over the past decade. The airline now boasts a market capitalisation of more than Rs 55,000 crore with the stock price nearly double the IPO price two and a half years back, according to him.

No doubt, Ghosh, who is married to a former headhunter and has two children, has had a starring role in several of these feats. But within the company and outside, he is known for his managerial skills than aviation chops. Ghosh was the face of the airline thanks in part to the wont of the founders to stay out of the limelight but the airline is actually run by Gangwal, who is a hands-on airline promoter.

Due to the scale and complexity of its operations – IndiGo began its regional operations in December 2017 with a new type of aircraft, the ATRs, and it is preparing to launch long-haul overseas flights – the airline may require more than a face. Stacked against that reality, the hiring of expats, all veterans of aviation, should not surprise.

Aviation industry watchers said Bhatia and especially Gangwal believe that IndiGo needs a new steward for the next phase of growth and they don’t think Ghosh is the man for the job. Ghosh was good for the company from its infancy – his legal background came in handy when the airline negotiated record aircraft orders from Airbus – but not beyond, according to them.

Mark D Martin, founder of Martin Consulting and an aviation analyst, said running an airline is not about just being a good negotiator. “Aditya has served his purpose but now that IndiGo has recast operations, the play is vastly different,” he said, adding that what the airline now requires is genuine aviation expertise.

Martin said IndiGo’s first attempt at international operations was a disaster because it faced aggressive price competition by competitors. “All the more reason IndiGo needs aviation experts as it is preparing to launch long-haul foreign flights,” he said.

IndiGo has also been confronted with one PR crisis after another in recent months. The airline was forced to ground 11 aircraft in February and March after discovering engine glitches. In November 2017, it had to take responsibility for an incident in which its security staff manhandled a passenger at the New Delhi airport and pushed the government to launch an investigation.

The airline was roundly criticised for its poor handling of the incident and lack of leadership.  Social media during those days was aflutter with several instances of passengers complaining about the “rudeness of IndiGo cabin crew”.

IndiGo also resisted a move by the Delhi International Airport Ltd (DIAL) to shift partially some of its flights to another terminal to facilitate expansion work. The matter was resolved only after a court battle and IndiGo earned the ire of DIAL, its hub, and the government for its pains.

The first airline executive quoted above said IndiGo lost its way in the last year or two.  “It seems to have lost focus on customers and became too aggressive in ways that hurt the brand significantly.”

Staff aggression has now become a recurring theme, he said, adding that the airline lost face after it lost the lawsuit it filed to stop transfer of operations to another terminal. “That macho culture seems to have come from the top.”

A day after the passenger incident in November, Ghosh posted a photo on Instagram after a workout session, dripped in sweat and flexing his muscles.

A Changed Man

Indeed, the demeanour of Ghosh has changed as IndiGo grew in size and clout.

“I find it odd talking about myself,” Aditya Ghosh told this reporter in an interview six years ago, adding that he would prefer talking about IndiGo. Ghosh had agreed to the interview after repeated requests and much persuasion and there was a good chance that “he might develop second thoughts and dash out of the room midway”.

IndiGo then was just six years old, yet to go public, but was constant fodder for gossip about its profitability, when competitors were bleeding, and accolades for its famed punctuality.

If Ghosh then was not thrilled with the spotlight, he has since come to revel in the attention. He is often seen in office parties, dancing even, talks to the press often and active on social media. At least one of the founders is said to have told him to cut short his frequent public appearances and interviews with publications.

Ghosh did not comment on one of the founders frowning on his alleged penchant for the spotlight (a person familiar with the matter said the press has always been unhappy for his lack of appearances and interviews). Instead, he chose to recollect his 12-year tenure at the airline.

“It’s been an amazing ride,” he said. Ghosh said he is also proud that IndiGo is now the fourth largest low-cost carrier in the world. It is the largest and most profitable airline in the fastest growing aviation market in the world, he said.

But his most satisfying accolade, he said, was that IndiGo was one of the best companies to work for 10 years in a row. “Now it is time for a pause before the next adventure.”

This article will be updated if and when IndiGo comments.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Aditya Ghosh to exit IndiGo, Rahul Bhatia interim CEO

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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IndiGo, India’s largest passenger airline, on Friday announced the resignation of Aditya Ghosh from the post of President of IndiGo effective July 31, 2018 and as a Director of the company with effect from April 26, 2018.

Ghosh will be replaced by Rahul Bhatia as interim Chief Executive Officer. The company also announced the appointment of Gregory Taylor as Senior Advisor to the company reporting directly to Rahul.

In another development, Ajay Sahai Jasra, Director – Corporate Communication, IndiGo has also quit. Jasra told CNBCTV18.com that he resigned two days ago and is undecided on his next move.

In the coming months, the board will consider the appointment of Greg as President and CEO of the company, subject to receiving the necessary regulatory approvals and paperwork, the press release said.

Gregory Taylor has more than 40 years of experience in large, world class airlines. During 2016 and 2017, Greg was the Executive Vice President of Revenue Management and Network Planning at IndiGo.

Rahul Bhatia, interim CEO of the company, said, “We are delighted at Greg’s decision to rejoin the IndiGo team and welcome him back to the Company. His enormous and varied experience and understanding of the complexities of the airline industry will be invaluable to our future plans. At the same time, we thank Aditya for all his hard work and contributions and for the successes that the Company has enjoyed.”

Rahul Bhatia’s Full Letter

Dear Fellow Colleagues:

I would like to bring you up to speed on a few key leadership changes that are underway at IndiGo. A press release on these issues is also being issued shortly.

Firstly, and with mixed emotions, I wish to inform you that Aditya Ghosh is resigning and will leave the Company on July 31. Aditya wishes to explore starting a new business venture and we respect his decision to do so.

For the last ten years, Aditya has led his team relentlessly in building IndiGo to be India’s largest airline. Your Board of Directors and I want to thank him for all his hard work and contributions for the successes that our company has enjoyed over the years.

This said, I am very excited to announce the return of Greg Taylor as Senior Advisor to the Company, reporting directly to me. As many of you know, Greg is no stranger to IndiGo having been our Executive Vice President of Revenue Management & Network Planning during 2016-17.

Greg has more than 40 years of enormous and varied experience in large, World Class Airlines. This experience and his ability to understand the complexities of the airline industry will be invaluable to our future plans.

In addition to his previous stint at IndiGo, Greg has held various senior management roles at United Airlines and US Airways in the areas of Corporate Strategy, Network Planning, Fleet Planning, Finance, Cost Management and Airline Express Operations.

Greg holds an MBA from University of Chicago. In the coming months, your Board of Directors will consider the appointment of Greg as President and CEO of the company, subject to receiving necessary regulatory approvals and paperwork.

Please join me in welcoming Greg and wishing Aditya and Greg all the very best in their new roles. I look forward to your continued and outstanding dedication to IndiGo and to the superb service that you provide to our customers every day.

Rahul, Interim CEO, IndiGo

Aditya Ghosh said, “For the last ten years, it has been a relentless, exhilarating and a most satisfying task building IndiGo. It is now time for me to step off the treadmill and sometime in the near future embark on my next adventure. I wish all my colleagues at IndiGo the very best as they move on to the next phase of growth.”

Aditya Ghosh’s Full Letter

Dear Colleagues,

In about three months, it will be ten years for me in my role as the President of IndiGo and twelve years since IndiGo took to the sky. It’s been an exhilarating ride to say the least. Non-stop and relentless.

Looking back, it’s indeed remarkable what we have been able to build in a relatively short period of time. But it’s now time for me to step off the treadmill and get ready for my next new adventure.

Like always, I wanted to write to you directly and straight from the heart.
Thank you for all your love and affection over the years. I am forever grateful for the loyalty and care you have shown for me.

As I have always said, thousands of times, I had the best job in the world because I got to come to work with each one of you. You have given me a million reasons to smile.

Your hard work each and every day has made me look so good.
Thank you is too small a phrase to describe my gratitude to each one of you.
I am not going away anywhere immediately. I am around for another three months till the end of July.

I am sure we will have many opportunities to meet and build happy memories. I wish each and every one of you all the very best for the future.

Cheers,

Aditya Ghosh, President, IndiGo

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India’s March domestic air passenger traffic up 28%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Domestic air passenger traffic rose to 1.15 crore in March 2018 — up 28.03% — from 90.45 lakh reported during the corresponding month of 2017, official data showed on Wednesday.

The total domestic air passenger traffic had risen to 1.07 crore in February.

Data furnished by the Directorate General of Civil Aviation (DGCA) revealed that passenger traffic during the January-March 2018 period grew by 23.87%.

“Passengers carried by domestic airlines during January-March 2018 were 337.90 lakh as against 272.79 lakh during the corresponding period of previous year thereby registering a growth of 23.87%,” the DGCA said in its monthly domestic traffic report.

According to the data, low-cost carrier SpiceJet had the highest passenger load factor (PLF) — a measure of capacity utilisation of the airline — at 95% during March.

“SpiceJet has yet again recorded the highest PLF in the industry. Clocking 95%  occupancy in the traditionally lean travel month of March is an achievement that we are proud of,” said Shilpa Bhatia, Chief Sales and Revenue Officer, SpiceJet.

“For three years in a row, SpiceJet has flown with the highest load factors in the Indian aviation market. For 35 months in a row our loads have been in excess of 90% — a feat unparalleled in global aviation history and a milestone that we are proud of.”

SpiceJet was followed by IndiGo with a PLF of 89% and GoAir at 88%.

“The passenger load factor in the month of March 2018 has shown decreasing trend compared to previous month due to end of vacation period of various sectors,” the monthly statistical analysis said.

The data noted that IndiGo led the industry with 84.1% punctuality rate (on-time performance) at the four major airports of Bengaluru, New Delhi, Hyderabad and Mumbai. It was followed by SpiceJet (83.9), Vistara (83) and Air India’s domestic operations (76.5).

The overall cancellation rate of scheduled domestic airlines for March 2018 stood at 1.38%.

In addition, the data disclosed that a total of 657 passenger-related complaints were received last month.

“The number of complaints per 10,000 passengers carried for the month of March 2018 has been around 0.57,” the monthly analysis said.

The data revealed that IndiGo led the industry with the highest market share of 39.5%, followed by Jet Airways (15), Air India (13.4), SpiceJet (12.7), and GoAir (9).

AirAsia India had a market share of 4.5%, followed by Vistara (3.8), JetLite (1.6) and Trujet (0.4).

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

All 14 grounded A320 Neos back in operation

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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All 14 Pratt & Whitney engine-powered Airbus A320 Neo planes of the two budget carriers- IndiGo and GoAir- which were grounded between February and March this year due to safety concerns are now back into operation, officials said.

Of these 14 planes, 11 were of IndiGo and three of the Wadia group-promoted GoAir.

None of the 11 A320 Neo planes fitted with P&W engines which were taken out of operation due to the engine glitches are now on ground. All these planes are back into service, an IndiGo official said today.

A GoAir official also said that its three Airbus A 320 Neos which were grounded by the regulator DGCA on March 12 are now flying again.

However, spokespersons of both IndiGo and GoAir were not available for comments.

>>Grounding of aircraft a technical matter, clear safety concern on engines: Jayant Sinha

In February, three IndiGo aircraft, with both faulty engines, were grounded. This followed the European Aviation Safety Agency (EASA) issuing an emergency airworthiness directive on February 9 after a few occurrences of aborted take-off and in-flight shut down on A320 Neo fleet worldwide.

On March 12, the Directorate General of Civil Aviation (DGCA) ordered grounding of 11 A320 Neo planes fitted with faulty P&W 1100 engines having serial number of 450 and beyond, citing safety concerns.

The DGCA cracked the whip after an IndiGo flight bound for Lucknow returned to Ahmedabad within 40 minutes of getting airborne due to a mid-air engine failure on March 12.

Following the grounding of the aircraft, while IndiGo cancelled a total of 776 flights between March 13 and April 2, GoAir did not operate 336 flights during the period.

Earlier this month, government had informed Parliament that 11 of these 14 A320 Neo aircraft had started flying again after change of engine.

“As of now, 11 of the 14 grounded aircraft have started flying after changing the engines,” minister of state for Civil Aviation Jayant Sinha said in a written reply in the Lok Sabha on April 5.

Pratt & Whitney President Robert F Leduc had said last month that the grounded aircraft of IndiGo and GoAir will be back in operation by April-end.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow