IndiGo appoints Ronojoy Dutta as new CEO

IndiGo owner InterGlobe Aviation on Thursday appointed Ronojoy Dutta as the new Chief Executive Officer (CEO) of the company with immediate effect. The company has also approved the appointment of Meleveetil Damodaran, the Independent Non-Executive Director, as the Chairman of the Board of Directors of the Company with immediate effect.

Ronojoy Dutta will remain as the company CEO for the next five years. Ronojoy Dutta, 67, has done BS Mechanical Engineering from Indian Institute of Technology and MBA from Harvard Business School. He was a co-founder and Managing Director of ACO Investment, renowned investment advisory firm in field of aviation and infrastructure.

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As per the company statement, Dutta also served as the President of Air Sahara from 2005 to 2008, President of United Airlines from 1999 till 2002. He led the Board of United Airlines every year from 1995 to 2002 in developing 5 year strategic plan. Dutta also served on the board of United Airlines from 1999 2002, US Airways from 2003-2004 and Marsico Trust Funds from 1997-2005.

IndiGo on Wednesday reported a 75 per cent fall in profit after tax at Rs 190.9 crore in the December quarter as high fuel prices and currency depreciation adversely impacted the bottomline. The airline had a profit after tax of Rs 762 crore in the corresponding period of 2017-18. According to a release, the carrier's total income rose over 28 per cent to Rs 8,229.4 crore in the three months ended December 2018. In the year-ago period, the same stood at Rs 6,409 crore.

Meanwhile, IndiGo stock opened at 1,183.65 on Thursday and closed at 1,181.95. The stock was 6.7% up than its previous close of 1,109.30.

Also read: IndiGo Q3 profit declines 75% to Rs 191 crore on high fuel prices, currency depreciation

Edited by Manoj Sharma