Tuesday, January 26, 2016

IndiGo in discussions with Airbus over A320 neos delivery delay

IndiGo's parent InterGlobe Aviation on Monday said it is in discussions with aircraft maker Airbus regarding the delay and revised schedule for the delivery of new planes. In December, the no-frills carrier said there was no clear visibility about the delivery of A320 neos as delivery of the first aircraft was delayed by Airbus due to "industrial reasons". In a filing to the NSE on Monday, InterGlobe said it continues to monitor the situation regarding the delay.

"As is normal and routine in commercial engagement... the company has naturally been in discussions with Airbus about the delay and revised delivery schedule," the filing said. The delay in delivery of A320 neos could adversely impact the ambitious growth plans of IndiGo, which has been betting on these more fuel-efficient planes whose delivery was to start from December.

Shares of InterGlobe dropped over 7% to close at Rs 898 on the NSE on Monday. After announcing its 2015 December quarter results last week, InterGlobe had said it would miss the 111-fleet target by March by a wide margin following labour issues at Airbus.
25/01/16 PTI/DNA
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