InterGlobe Aviation Ltd, the parent company of India’s largest airline IndiGo, has appointed Kiran Thadimarri as its new Chief Financial Officer (CFO), replacing Gaurav Negi, who has moved into an advisory role supporting IndiGo Managing Director Rahul Bhatia.
The company’s board approved the leadership changes during its meeting on Monday, with Negi officially stepping down from the CFO position effective July 27 before transitioning into his new advisory role.
InterGlobe Aviation Ltd, Kiran Thadimarri as its new Chief Financial Officer (CFO).
Thadimarri, who previously served as Deputy CFO of InterGlobe Aviation, brings more than 24 years of finance experience across various industries. His professional background includes leadership roles at InterGlobe Enterprises, Udaan, Genworks Health and General Electric, where he gained expertise in financial planning, treasury management, fundraising, taxation, auditing and investor relations.
Meanwhile, Negi leaves the CFO role after more than 20 years of experience in finance and corporate governance. Prior to joining IndiGo, he held several senior finance positions at General Electric, including CFO roles for GE Renewable Onshore Wind Asia Pacific, GE Healthcare and GE NBCU.
InterGlobe Aviation did not disclose specific reasons behind the leadership transition, stating only that Negi will continue contributing to the company in an advisory capacity while Thadimarri has been elevated from Deputy CFO to CFO.
The appointment comes shortly after IndiGo reported a consolidated net loss of ₹238 crore for the June quarter, impacted by higher aviation fuel expenses, depreciation of the Indian rupee and operational disruptions caused by geopolitical challenges in West Asia.
Despite the quarterly loss, the airline recorded higher revenue during the period, reflecting continued demand growth within India’s aviation market.
In a separate development, IndiGo disclosed that it had received a customs order requiring the airline to pay additional duties on imported goods covering the period from April 2020 to March 2024, along with a penalty amounting to ₹1.14 crore.
The airline said it disagrees with the customs classification findings and intends to challenge the order through the appropriate legal channels. IndiGo added that it does not expect the matter to have any material impact on its financial performance or ongoing operations.
The appointment of Thadimarri marks another step in IndiGo’s leadership evolution as the airline continues expanding its operations and strengthening its financial management capabilities amid a rapidly growing aviation sector.
