IndiGo gets regulatory nod to wet-lease 11 A320 aircraft: Report
- Pratt's owner RTX had on Monday said it would have to pull a total of 600 to 700 engines off their Airbus A320neo jets for lengthy quality inspections between 2023 and 2026.
Interglobe Aviation - the operator of low-cost IndiGo airlines, has received approval from the Directorate General of Civil Aviation (DGCA) to wet-lease 11 A320 aircraft, according to CNBC-TV18. This comes amid IndiGo grounding nearly 40 planes due to a Pratt & Whitney engine issue, the report said.
Earlier this week, Pratt's owner RTX had said that it would have to pull a total of 600 to 700 engines off their Airbus A320neo jets for lengthy quality inspections between 2023 and 2026. RTX had in July said a rare powder metal defect could lead to the cracking of some engine components and called for accelerated inspections affecting 200 engines by mid-September.
Last month, IndiGo said it was assessing the impact on its fleet due to troubled Pratt & Whitney engines and it expects a fall in yield due to seasonal weakness in the second quarter.
This is the second time in this year that the Gurugram-based budget airline has been seeking wet-leased planes for its fleet. As earlier this year, IndiGo inducted three wide-body B777 planes on lease from Turkish Airlines for catering to the increasing passenger traffic to Istanbul and beyond, according to the report.
Interglobe Aviation reported record quarterly profit and revenue on robust demand for air travel, lower fuel costs, and favourable foreign currency movement. The net profit rose to ₹3,090.6 crore in the quarter ended 30 June from a loss of ₹1,064.3 crore. Total income rose by 32 per cent to ₹17,161 crore from a year earlier.
The airline also said it plans to make early investments in aviation-related companies, and will look at acquiring assets such as aircraft and engines to make better use of its cash flows. As of 30 June, India’s largest airline had free cash amounting to ₹15,691 crore, up 89 per cent from the previous quarter.
On Wednesday, September 14, shares of Interglobe Aviation settled 1.86 per cent lower at ₹2,446.60 apiece on the BSE.
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First Published:13 Sep 2023, 07:24 PM IST
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