NEW DELHI: InterGlobe Aviation, the guardian firm of price range airline IndiGo on Friday stated that it has reached an settlement with International Aero Engine (IAE), an affiliate of Pratt & Whitney, to receive a “customised” compensation bundle, for grounded aircraft.
In a regulatory submitting InterGlobe Aviation stated, “On June 14, 2024, InterGlobe Aviation Ltd finalised an amendment to the existing agreement with International Aero Engines, LLC, an affiliate of Pratt & Whitney pursuant to which IAE will provide IndiGo with a customised compensation in relation to the ongoing situation of aircraft on ground due to unavailability of engines.”
The submitting didn’t disclose the particular quantity of compensation that InterGlobe Aviation will receive from IAE.IndiGo is at the moment dealing with challenges with a major quantity of its aircraft being grounded due to provide chain and engine-related issues.
The airline had beforehand disclosed in February that greater than 70 IndiGo aircraft have been grounded due to Pratt engine points, with greater than 30 on floor due to a powder steel defect, whereas the remaining are impacted by different points.
Despite these hurdles, IndiGo has managed to preserve its sturdy monetary efficiency. The firm reported enhance in revenue after tax for the March quarter, reaching Rs 1,894.8 crore, fuelled by excessive passenger visitors, expanded capability, and a good exterior surroundings.
For the fiscal 12 months 2024, IndiGo achieved a internet revenue of Rs 8,172.5 crore, accompanied by a file whole revenue of Rs 18,505.1 crore. IndiGo’s fleet consisted of 367 aircraft, which included 13 planes on damp lease, on the finish of March.
The airline’s home market share continued to develop, reaching 61.6 per cent in May, in accordance to the most recent information launched by the Directorate General of Civil Aviation (DGCA).
(With inputs from businesses)
In a regulatory submitting InterGlobe Aviation stated, “On June 14, 2024, InterGlobe Aviation Ltd finalised an amendment to the existing agreement with International Aero Engines, LLC, an affiliate of Pratt & Whitney pursuant to which IAE will provide IndiGo with a customised compensation in relation to the ongoing situation of aircraft on ground due to unavailability of engines.”
The submitting didn’t disclose the particular quantity of compensation that InterGlobe Aviation will receive from IAE.IndiGo is at the moment dealing with challenges with a major quantity of its aircraft being grounded due to provide chain and engine-related issues.
The airline had beforehand disclosed in February that greater than 70 IndiGo aircraft have been grounded due to Pratt engine points, with greater than 30 on floor due to a powder steel defect, whereas the remaining are impacted by different points.
Despite these hurdles, IndiGo has managed to preserve its sturdy monetary efficiency. The firm reported enhance in revenue after tax for the March quarter, reaching Rs 1,894.8 crore, fuelled by excessive passenger visitors, expanded capability, and a good exterior surroundings.
For the fiscal 12 months 2024, IndiGo achieved a internet revenue of Rs 8,172.5 crore, accompanied by a file whole revenue of Rs 18,505.1 crore. IndiGo’s fleet consisted of 367 aircraft, which included 13 planes on damp lease, on the finish of March.
The airline’s home market share continued to develop, reaching 61.6 per cent in May, in accordance to the most recent information launched by the Directorate General of Civil Aviation (DGCA).
(With inputs from businesses)
