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InterGlobe Aviation share price down 2% after DGCA warning over A320Neo aircraft

For every new A320Neo that IndiGo will add to its fleet, it will have to ground a similar aircraft with unmodified engines, the regulator has said.

November 26, 2019 / 12:22 PM IST
 
 
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Share price of InterGlobe Aviation, the owner of IndiGo, was down 2 percent intraday on November 26 after DGCA warned of grounding more flights over engine trouble.

The airline’s efforts to modify the Pratt & Whitney engines in Airbus A320Neo aircraft were not satisfactory, the aviation regulator warned. As a result, a significant portion of IndiGo’s fleet could be grounded if the carrier fails to meet the January 31, 2020 deadline to replace the engines.

“We may find ourselves in a situation in which we remain saddled with a large number of aircraft with unmodified engines and operating on a schedule approved by us," the Directorate General of Civil Aviation said.

The regulator said that for every new A320Neo that IndiGo would add to its fleet, it would have to ground a similar aircraft with unmodified engines.

At 1133 hours, InterGlobe Aviation was quoting at Rs 1,423.00, down Rs 27.45, or 1.89 percent. It has touched an intraday high of Rs 1,438.15 and an intraday low of Rs 1,389.00.
Moneycontrol News
first published: Nov 26, 2019 11:58 am

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