Country’s largest airline IndiGo in a stock exchange filing on Friday said that its has accepted the resignation of its President and whole time Director, Aditya Ghosh and its Director, Rahul Bhatia will be the interim Chief Executive Officer of the airline. Bhatia who is also the director of the company will continue to remain so but the company will be appointing a CEO soon. The company also announced the appointment of Gregory Taylor as Senior Advisor to the company reporting directly to Rahul. He also is an aviation veteran and has held various important positions at airlines like with United Airlines and US Airways.
Ghosh, who is a CA by profession has been IndiGo’s President since 2008 and has been instrumental in the steady and solid rise of IndiGo from the time it launched operations in August 2006 with a single aircraft to county’s largest airline with nearly 40 % market share and a 161 aircraft fleet. He also saw the airline being listed at the stock exchanges and with an eight fold increase in the top line over the past decade with a market cap of Rs 55,000 crore.Sources within the airline say that the move is not a sudden one and there have been signs that Ghosh might move out of the airline. Ghosh has not been attending the regular head of department meets at the airline for over a month now and IndiGo has been staffing expats, Taylor being one of them, for all important functions of the airline like the revenue management and others.
“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,” IndiGo said. Sources say the airline, of late, was practically run by Rakesh Gangwal, an aviation veteran who has worked carrier like United Airlines, and later on went on to set up IndiGo with his long time friend Rahul Bhatia who currently will helm the function of the CEO of the airline in the interim.
Aditya Ghosh is probably the sharpest of the minds in the country or in the airline business who knows aircraft pricing specifically the Airbus pricing like the back of his hand and he has done a commendable job in planning the fleet expansion at the airline and crafting leases and maintenance contracts for IndiGo that are probably the best in business and very farsighted for an Indian airline.“We thank Aditya for all his hard work and contributions and for the successes that the company has enjoyed,” Bhatia said in the release.
Ghosh in a statement said that it was time for him to step off the treadmill and sometime in the near future embark on his next adventure.