IndiGo founder Rakesh Gangwal sells 2.6 crore shares in the company. The total worth of the stocks is around 7,000 crores.
Gangwal’s stake in InterGlobe Aviation stood at 25.2% in December 2023. However, following the sale of the stake, his holding will decrease to 19.4%, making it a significant reduction.
Rakesh Gangwal is an Indian-American entrepreneur and businessman, best known for co-founding IndiGo, one of India’s largest airlines. Along with Rahul Bhatia, Gangwal co-founded IndiGo in 2006. The airline quickly gained prominence in the Indian aviation market for its low-cost model and efficient operations.
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Information about IndiGo:
- Revenue: IndiGo’s revenue is primarily generated from ticket sales, ancillary services, and cargo services.
- Profitability: Historically, IndiGo has been one of the more profitable airlines in India. Its low-cost carrier model and efficient operations have contributed to its profitability.
- Financial Performance: Various factors influence IndiGo’s financial performance, such as fuel prices, competition, regulatory changes, and economic conditions.
- Expansion: The airline has been expanding its fleet and route network over the years, both domestically and internationally. This expansion comes with associated costs but also potential revenue growth opportunities.
- Cost Management: IndiGo has been known for its focus on cost management and operational efficiency. This includes strategies such as fleet optimisation, fuel hedging, and negotiation with suppliers.
IndiGo Company Details
- Background: IndiGo Airlines was founded in 2005 by Rahul Bhatia of InterGlobe Enterprises and Rakesh Gangwal. It commenced operations in August 2006.
- Headquarters: IndiGo is headquartered in Gurugram, Haryana, India.
- Fleet: The airline primarily operates a fleet of Airbus A320 family aircraft, including A320neo and A321neo models. As of my last update, IndiGo has one of the largest fleets among Indian airlines.
- Destinations: IndiGo serves domestic destinations within India as well as international destinations in Asia and the Middle East. Its route network covers major cities across India and some key international destinations.
- Market Share: IndiGo is one of the largest airlines in India by market share and operates a large number of flights domestically as well as internationally.
- Awards and Recognition: IndiGo has received several awards and recognitions for its operational excellence, including recognition for being on time and for its customer service.
- Financial Performance: IndiGo has been one of the most financially successful airlines in India. It has consistently reported profits and has been expanding its operations over the years.
- Ownership: InterGlobe Aviation Limited is the parent company of IndiGo Airlines. Rahul Bhatia and Rakesh Gangwal are the co-founders and major stakeholders of InterGlobe Aviation.
- Technology: IndiGo has invested in modern technology for its operations, including online booking systems, mobile apps, and in-flight entertainment options.
