India's IndiGo airline appoints Kiran Thadimarri as finance chief

IndiGo, India's largest airline, said on Monday it has appointed insider Kiran Thadimarri as its chief financial officer, replacing Gaurav Negi.

Thadimarri, currently IndiGo's deputy CFO, had previously worked with Indian e-commerce firm Udaan and General Electric. His appointment is effective July 28.

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Negi, who had been the airline's finance chief since 2022, would transition to the role of an adviser.

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IndiGo forecast largely flat capacity growth for the current quarter after posting a second consecutive quarterly loss last week.

Margins of airlines such as IndiGo, which do not hedge fuel costs, have been squeezed by a surge in jet fuel prices after the Iran conflict pushed crude oil prices above $100 a barrel.