IndiGo in trouble; 30 aircraft grounded amid wet leasing of planes to boost operations
Nearly 30 IndiGo aircraft have been grounded as the country's largest airline evaluates wet leasing of planes and other options to boost operations.
The airline said the aircraft have been grounded due to "supply chain disruptions".
At the end of September, the carrier -- also the world's seventh largest in terms of daily departures -- had 279 aircraft in its fleet.
It operates more than 1,600 daily flights and currently flies to 100 destinations, including 26 international ones.
According to a source, 30 planes of IndiGo are grounded due to supply chain problems.
A spokesperson for the airline said that globally, the aviation industry continues to face significant supply chain disruptions.
"While it is our immediate priority to deploy adequate capacity to serve our customers, we are actively engaged with our OEM partners to work on mitigation measures that should ensure the continuity of our network and operations. As we work on various cost-efficient countermeasures with our OEM partners, the endeavour is to minimise the economic impact of around 30 AOG (Aircraft on Ground), resulting from this global disruption," the spokesperson said.
The airline is looking at slowing down redeliveries through lease extensions, exploring the reinduction of aircraft into the fleet, and evaluating the wet lease options within the regulatory guidelines.
"We are bullish on the market opportunities and will continue to add flights in existing and new markets," the airline said.
The carrier has a domestic market share of more than 57 per cent.
On November 1, aviation consultancy firm CAPA said that more than 75 planes of Indian carriers are currently grounded due to maintenance and engine-related issues.
These planes, which account for around 10-12 per cent of the Indian fleet, are grounded due to maintenance or engine-related issues.
"These will have a significant impact on financials in the second half," CAPA said in its India Mid-Year Outlook 2023.
During an earnings call with analysts on November 4, IndiGo CEO Pieter Elbers said supply chain disruption in aircraft manufacturing and subsequent shortage of spare engines worldwide have impacted the airline's operations due to the grounding of aircraft.
"The challenges are forcing us to look at different ways and means in order to make sure that we have the capacity to operate," he had said.
In the September quarter, IndiGo's parent InterGlobe Aviation reported a widening of loss to Rs 1,583.34 crore due to higher fuel costs and foreign exchange loss.
(With inputs from PTI)
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