As Mumbai and its neighboring districts were hit with heavy rainfall, 14 incoming flights at the Mumbai Airport were diverted to different airports. This includes nine flights from IndiGo, causing chaos and delay in flight operations. The India Meteorological Department has issued a red alert for Mumbai, with extremely heavy rainfall predicted for the city. The flights were diverted due to inclement weather, with one diverted to Ahmedabad and two to Hyderabad.
Rakesh Gangwal's family trust sold a 5.24% stake in InterGlobe Aviation, the parent company of IndiGo, for Rs 9,549 crore through open market transactions. This comes after Gangwal's decision in February 2022 to reduce his shareholding following a feud with co-founder Rahul Bhatia. In addition, Morgan Stanley Asia (Singapore) Pte acquired a 0.74% stake in the company for Rs 1,345.63 crore.
An advocate's humorous inquiry about a "Cute Charge" listed on his IndiGo flight ticket from Lucknow to Bengaluru has sparked a conversation on social media about the different fees and charges levied by airlines. Along with questioning the airline about this "Cute Charge", the advocate also raised questions about other fees on the ticket, such as "User Development Fee" and "Aviation Security Fee". This incident has sparked a discussion on airline fees and the transparency around them.
India's largest airline IndiGo is set to launch its new business class product, 'IndiGo Stretch', on 12 major domestic routes in mid-November. This marks a significant shift for the budget airline, which has traditionally offered a single-class cabin configuration. The new business class seats, supplied by Recaro, will have specially curated meals from Oberoi Hotels, along with a range of complimentary amenities. Industry experts believe this move is a response to increased competition from other full-service carriers in the market, and it is expected to boost IndiGo's revenue from business and premium class passengers.
The Ministry of Civil Aviation has ordered an investigation into the recent roof collapse at Terminal 1 of Delhi's IGIA. The probe will be supervised by the aviation safety regulator DGCA, and all airports in India will undergo a structural inspection. The incident at Delhi's airport, which resulted in one death and multiple injuries, has led to the suspension of flight operations from Terminal 1 and impact across the network of major airline IndiGo. The situation is being monitored by Prime Minister Narendra Modi.
Shares of InterGlobe Aviation, the holding company of Rahul Bhatia family, fell 4% after a block deal involving 83.7 lakh shares took place on June 11. The deal, worth Rs 3,689 crore, is the first time the Bhatia Family is selling stake in the low-cost carrier after its IPO. InterGlobe Enterprises Private, through which Rahul Bhatia holds a 37.91% stake in the company, is looking to pare around 2% stake worth $394 million. There will be a lock-up period of 365 days for the seller as per the deal's term sheet issued by the bankers.
Shares of IRB Infrastructure Developers plummeted by over 7% as foreign investor Cintra Investments announced their intent to offload a 5% stake in the company. The deal, which is expected to be executed at a discount of over 10%, has a transaction size of Rs 1900 crore. In related news, there is speculation of a block deal in Honasa Consumer with Fireside Ventures and Sofina Ventures potentially offloading 1-2% of their stake at a discount of 8%.
Amidst the excitement of monsoon's early arrival and heavy rainfall in Mumbai and nearby areas, NCP leader Praful Patel reveals that he refused a lesser position of Minister of State with independent charge in the upcoming Modi 3.0 Cabinet. This move has caused some internal tension, with party member Sunil Tatkare also not receiving a Cabinet berth. However, other Maharashtra politicians, such as BJP's Nitin Gadkari, are set to take oath as Union Ministers. This comes as aviation regulator DGCA launches a probe into the incident at Mumbai's airport when an IndiGo plane landed and an Air India aircraft took off from the same runway in succession. With a diverse political background and a reputation for infrastructure-oriented development, Gadkari's appointment as Union Minister is being closely watched.
The Directorate General of Civil Aviation (DGCA) is currently investigating an incident at Mumbai airport where an IndiGo flight was landing on one runway while an Air India flight was attempting to take off from the adjacent runway. The incident came to light after a video of the near collision went viral on social media, causing concern over aviation safety at the overcrowded airport. While the airlines involved claim that their pilots followed protocol, experts point out that the prescribed minimum distance between planes can be reduced depending on conditions, making it premature to draw conclusions based on the video alone. The DGCA's probe is expected to determine whether the air traffic controller and pilots acted within the prescribed norms.
The Indigo Bunting, a brightly colored bird, is commonly found in eastern United States and parts of Mexico through Central America during the spring and fall months. Along with its distinct blue coloring, the male Indigo Bunting has a unique breeding pattern and can often be heard singing during the breeding season. Despite being a frequent sighting in its habitat, the Indigo Bunting is considered a rare species in other parts of North America.