NEW DELHI: Budget airline carrier InterGlobe Aviation (IndiGo) on Friday said announced the resignation of the airline’s boss Aditya Ghosh as president effective July 31, 2018 and as a director of the company with effect from April 26, 2018.
Rahul Bhatia, the billionaire owner of the airline, will take over as interim CEO.
IndiGo also announced the appointment of Gregory Taylor, an airline veteran with 40 years of experience who has previously worked with IndiGo during 2016-2017 as senior advisor to the company.
The airline’s board will consider Taylor’s appointment as president and CEO of the company subject to receiving the necessary regulatory approvals.
A well placed source in the airline told TNIE that the new development took them by surprise. Ghosh, who has been associated with the airline for the past 10 years, said, “It is now time for me to step off the treadmill and sometime in the near future embark on my next adventure.”
Ghosh was appointed for the top post at an early age of 32 in 2008, when the airline’s founding president and CEO Bruce Ashby resigned. Since then, Ghosh has been a key figure in the domestic airline industry.
The resignation was accepted during the board meeting on Saturday.
InterGlobe Aviation said Taylor, a former executive at the airline, has been appointed as a Senior Advisor and would report directly to Bhatia.
“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,” InterGlobe said in a statement.
Ghosh, who has been with the airline for ten years, said it has been a most satisfying task building IndiGo.
“It is now time for me to step off the treadmill and sometime in the near future embark on my next adventure. I wish all my colleagues at IndiGo the very best as they move on to the next phase of growth,” he said.
During 2016 and 2017, Taylor was the Executive Vice President of Revenue Management and Network Planning at IndiGo.
Prior to that, he had served in various senior management roles at United Airlines and US Airways in the areas of corporate planning, strategy, network planning, fleet planning, finance, cost management and airline express operations, the statement said.
Bhatia told employees that Ghosh wishes to explore starting a new business venture and that the airline respects his decision to do so.
“I am very excited to announce the return of Greg Taylor as Senior Advisor to the company, reporting directly to me.
As many of you know, Greg is no stranger to IndiGo having been our Executive Vice President of Revenue Management & Network Planning during 2016-17,” he said in a message.
In a separate message to employees, Ghosh said that in about three months, it would be ten years for him in his role as the President of IndiGo and twelve years since IndiGo took to the sky.
“I was 32 then. From 18 airplanes ten years ago to over a 160 today. More than a thousand daily flights. An eight-fold increase in topline over the past decade. Now sitting at a market cap of over Rs 55,000 crore with the stock price nearly double of the IPO price two and a half years back,” he said in the message.
He noted that IndiGo is the largest and most profitable airline in the fastest growing aviation market in the world.
Welcoming Taylor, Bhatia said his enormous and varied experience and understanding of the complexities of the airline industry would be invaluable to the airline’s future plans.
“At the same time, we thank Aditya (Ghosh) for all his hard work and contributions and for the successes that the company has enjoyed,” he added.
IndiGo, which has a fleet of 160 aircraft, is the country’s largest airline with a market share of nearly 40 per cent.(PTI)