IndiGo Names Kiran Thadimarri CFO; Gaurav Negi Becomes Adviser
IndiGo has appointed Kiran Thadimarri as CFO, while outgoing finance chief Gaurav Negi transitions to an adviser role.
SociapaHQ
IndiGo has appointed Kiran Thadimarri as Chief Financial Officer (CFO) with effect from 28th July, 2023 as the airline reorganises its finance leadership in a difficult operating environment.
Thadimarri takes over from Gaurav Negi, who is moving to the role of adviser after serving as IndiGo’s finance chief since 2022.
Before his appointment, Thadimarri was the Deputy Chief Financial Officer at IndiGo where he was part of the airline’s finance leadership team. He has previously worked with e-commerce company Udaan and industrial conglomerate General Electric where he gained experience in the areas of aviation, technology and corporate finance.
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Leadership Transition:
The leadership change comes amid cost pressures and a softer earnings environment for IndiGo. The airline recently posted its second straight quarterly loss and said capacity growth for the current quarter is expected to be roughly flat.
IndiGo and some other airlines not hedging their fuel requirements have been struggling with higher operating costs as jet fuel prices have gone up after a rise in global crude oil prices amid the Iran conflict. Airlines have seen their margins squeezed on all fronts by higher fuel costs.
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Thadimarri’s appointment comes as IndiGo continues to focus on cost management and strengthening of its financial operations amid a volatile aviation market. Negi is expected to help the company navigate the leadership transition in his new role as an adviser.
