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IndiGo appoints Gaurav Negi as new CFO after Jiten Chopra resigns

By Priyanka Verma 
Updated Date

NEW DELHI : InterGlobe Aviation Limited-operated IndiGo has appointed Gaurav Negi, currently a senior vice president with the company, as its chief financial officer (CFO) following the resignation of Jiten Chopra, the country’s largest domestic airline said in a statement on Tuesday, March 29. Negi is IndiGo’s fourth finance chief in six years.

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“Jiten Chopra, IndiGo’s CFO has submitted his resignation to pursue other interests,” a statement said.

Gaurav Negi, who’s currently IndiGo’s senior vice president (SVP) and head of governance, risk and compliance, will assume the position of CFO from 1 April. The appointment of Negi comes at a time when IndiGo is looking to expand international operations, amidst escalating oil prices due to the ongoing conflict at Ukraine.

During February, IndiGo reported a surprise quarterly profit, the first in nearly two years, amid a steady rise in passenger traffic and fares.

The airline’s net profit rose to ₹129.80 crore in the three months ended 31 December from a loss of ₹620.14 crore in the year earlier. The airline, which last reported a profit in the quarter to December 2019, had reported a loss of ₹1,435.66 crore in the September quarter of last year.

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Interestingly, the airline also named co-founder and promoter Rahul Bhatia as the managing director for five years from 4 February.

“IndiGo has seen few CFO changes in the last couple of years and has also seen its co-founder, who usually let a professional management run the airline, return at the helm,” said an industry official, who didn’t want to be named.

“The challenge will be to run the airline efficiently amidst the headwinds brought about by the Ukraine conflict, pandemic and others,” the official added.

IndiGo is also ramping up its international operations following the government’s announcement to suspend a ban on scheduled international flights from 27 March.

IndiGo will operate to international destinations like Dammam, Kuwait, Abu Dhabi, Sharjah, Jeddah, Riyadh, Doha, Bangkok, Phuket, Singapore, Colombo, Dubai, Kathmandu, Maldives, and Dhaka as the airline restarts scheduled operations on more than 150 routes in a phased manner, the airline said in a separate statement.

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