IndiGo has appointed deputy CFO Kiran Thadimarri as its new chief financial officer, effective July 28.
Gaurav Negi, CFO since 2022, will move to an advisory role at the airline.
The change comes after IndiGo posted a ₹238 crore loss for the June quarter, its second straight quarterly loss.
IndiGo Picks Deputy CFO Thadimarri To Head Finance, Negi Shifts To Advisory Role
The leadership change comes days after InterGlobe Aviation reported a consolidated loss of ₹238 crore for the first quarter of 2026-27
IndiGo
Summary
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India's largest airline, IndiGo, has appointed Kiran Thadimarri as its new chief financial officer (CFO), replacing Gaurav Negi, the company said on Monday. The appointment takes effect from July 28.
Prior to this, Thadimarri served as IndiGo's deputy CFO. He has previously worked with e-commerce firm Udaan and General Electric. Negi, who held the CFO post since 2022, will now take on an advisory role at the airline.
Shares of InterGlobe Aviation, IndiGo's parent company, traded higher on Tuesday despite the leadership change. The stock opened at ₹5,255 apiece, compared to Monday's close of ₹5,230, and touched an intraday high of ₹5,255 on the NSE.
A Change Amid Financial Pressure
The leadership change comes days after InterGlobe Aviation reported a consolidated loss of ₹238 crore for the first quarter of 2026-27. This marked the airline's second consecutive quarterly loss. The airline's fleet size fell by nine aircraft during the quarter, bringing the total to 432. Total expenses rose 35.1% during the period.
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IndiGo has forecast largely flat capacity growth for the current quarter, citing high fuel prices and uncertainty linked to the conflict in West Asia.
Airlines like IndiGo, which do not hedge fuel costs, have faced pressure from rising jet fuel prices after the Iran conflict pushed crude oil above $100 a barrel. Airlines have responded with larger losses, flat capacity plans and higher ticket prices, industry data shows.
"On the cost side, fuel remains the largest source of pressure during the quarter...global fuel markets continue to be influenced by developments in the Middle East, resulting in significant volatility," Negi said on a post-earnings call, before his move to the adviser role was announced.
Negi added that the airline was working to optimise costs by deploying more fuel-efficient aircraft wherever commercially feasible. IndiGo has also curtailed discretionary spending and deferred salary increments for senior-level employees, he said.
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