Aditya Ghosh steps down as IndiGo President; Rahul Bhatia appointed interim CEO

Aditya Ghosh has resigned as the President and Wholetime Director of India’s largest domestic air carrier IndiGo, ostensibly in favour of starting out his own business venture, the company said on Friday. Aditya Ghosh will step down as the President of IndiGo effective 31 July 2018, while his tenure as the Director has ended effective yesterday itself, IndiGo’s holding company Interglobe Aviation said in a stock exchange notice.

Meanwhile, IndiGo has appointed Interglobe Aviation Director Rahul Bhatia as the interim CEO. Rahul Bhatia will continue as a Director of the company. Rahul Bhatia said that Aditya Ghosh stepped down as he wishes to explore starting a new business venture. The airline company said that it respects his decision to resign.

After his decision to step down, Aditya Ghosh said that his experience at the airline has been “relentless, exhilarating, most satisfying task”. He said that after building IndiGo, it was now time for him to step off the treadmill and embark on his next adventure some time in near future.

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Meanwhile, the airline announced that Greg Taylor will its new senior advisor. He was earlier the executive vice president of revenue management. However, his appointment is subject to regulatory approvals. The airlines’ board will consider Greg Taylor for the position of President and CEO.

Earlier in the day, Interglobe Aviation stock tanked as much as 9% to the day’s low of Rs 1,400, before ending at Rs 1,406.8, down 6.21% from the previous close. IndiGo earlier this month had ruled itself out of the race for troubled-state carrier Air India after showing early interest. The airline reported over a 50% jump in net profit at Rs 7.62 billion in the three months ended December on the back of better revenue management and credit from manufacturers.

IndiGo is India’s largest passenger airline with a market share of 39.5%. The airline, headquartered in Gurgaon, leads the domestic air travel market as a low-cost carrier. Launched in August 2006 with just one plane, IndiGo now has a fleet of 161 aircraft.