The InterGlobe Aviation shares are likely to remain in focus in Wednesday’s trade as the company’s Chief Executive Officer (CEO) Pieter Elbers resigned. The low-cost carrier’s managing director Rahul Bhatia has taken over the daily operations in the interim.
The airline has been battling a series of concerns in recent times, from flight disruption to big spikes in crude oil prices.
IndiGo tackling flight disruption
The exit of Elbers comes nearly three months after the firm faced significant flight disruptions that left at least three lakh passengers stranded. This led DGCA, the aviation regulator, to impose a fine of Rs 22.20 crore on the company, in accordance with other actions taken by it.
“We wish to inform you that the Board of Directors of the Company, at its meeting held today, i.e., March 10, 2026, inter alia, took note of the resignation tendered by Mr Pieter Elbers, Chief Executive Officer. He will be relieved from the service of the Company effective close of business hours on March 10, 2026. Mr Rahul Bhatia, Managing Director, shall, in the interim, assume management of the affairs of the Company,” IndiGo said in the filing.
Elbers, who took the helm at IndiGo in September 2022, had been under sustained pressure since the airline’s worst operational crisis in December last year, which grounded its reputation along with hundreds of flights. On January 29, reflecting candidly on the flight disruptions, Elbers acknowledged that IndiGo let its customers down for three days, but emphasised that the episode does not define the airline’s 20-year legacy.
Volatile crude prices and Middle East flight disruption
The other big concern has been the Middle East Crisis. There have been more than 500 flight cancellations due to the ongoing conflict. The crisis also led to huge volatility in crude prices. This is again a major concern for IndiGo.Crude had spiked close to $120/bbl levels and then cooled down below $85 levels. The price of crude directly impacts ATF prices.
The effect of both these events is seen as a key driver for the near-term.
InterGlobe Aviation Q3FY26
InterGlobe Aviation reported a 78% decline in net profit year-over-year in the third quarter of FY26 on account of a flight crisis that virtually grounded one of the fastest-growing aviation markets in the world. The company’s consolidated net profit came in at Rs 550 crore for the quarter under review. However, its revenue increased 6.15% YoYto Rs 23,472 crore in Q3FY26.
InterGlobe Aviation share price performance
The share price of IndiGo has risen 1.66% in the last five trading sessions. The stock has dropped almost 13% in the past one month and 23% in the last six months. IndiGo’s share price has declined 5.75% over the last 12 months.