Indigo Airlines faces leadership issues

The stock of Interglobe Aviation which owns budget carrier Indigo Airlines' was buzzing on Monday after facing leadership issues. The stocked gained nearly 3 per cent in the early morning trade, but was trading in red in the afternoon session.

Indigo Airlines' much celebrated President Aditya Ghosh from his post. The company has appointed Rahul Bhatia as the Interim Chief Executive Officer, the company informed the bourses on Friday. The market was also abuzz with news reports that GoAir has sued Wolfgang Prock-Schauer, Indigo's Chief Operating Officer, who was formerly MD of GoAir, for stealing confidential data. Indigo is the third Indian Airline that Prock-Schauer has worked for after his time in Jet Airway and GoAir.

Meanwhile, the airlines A320 Neo planes continued to face their technical glitches and two planes were ground on Friday. The airline said that both the planes faced minor issues and were operational now.

The stock has seen a steep rise in investor participation with delivery volumes at 15.75 lakh, which is up 201.68% compared to its 5-day average volume at 14:01 hours on Monday. The stock was trading at Rs. 1,399.60 per share, down 0.51 per cent.