InterGlobe Aviation-run IndiGo has appointed its co-founder and promoter Rahul Bhatia as the company’s managing director with immediate effect.
According to the company statement, The board of directors, during its meeting on Friday, unanimously approved the appointment of Bhatia as the managing director with immediate effect, subject to the approval of the shareholders.
Bhatia said his agenda would be transformational and would focus on expanding the airline’s presence in India and in international markets and building for the long term.
IndiGo is back in the black with a net profit for the December quarter at Rs.130 crore. The profit comes after the airline posted a loss for a series of straight quarters.
The Gurgaon-headquartered company’s revenue from operations surged by a massive 89% to Rs. 9,294 crore during the third quarter when compared with Rs. 4,909 crore in the corresponding quarter of the last year.
IndiGo CEO Ronojoy Dutta said, “I am pleased that we were able to report a profit for the third quarter. It demonstrates that our business model is fundamentally strong. Our employees have remained a pillar of strength throughout this health crisis and have steadfastly provided superior service to our customers,”
IndiGo Chairman Meleveetil Damodaran said the move will further strengthen the airline in the years ahead. Bhatia would oversee all aspects of the airline, and actively lead the management team, he added.
