InterGlobe dips on back of engine trouble

The stock of InterGlobe Aviation was seen under pressure on Tuesday following news that the airline regulatory has asked the company to ground its A320neo fleet of aircraft.

With air safety coming to the fore after Monday's brutal air crash in Nepal, Directorate General of Civil Aviation (DGCA) is not in a mood to take any chances. Also on Monday, an IndiGo aircraft developed a mid-air snag soon after take-off. The Ahmedabad-Lucknow flight was returned to Ahmedabad. The said aircraft was one of the 11 Airbus A320neo's powered with Pratt & Whitney PW1100G engines. Budget airlines IndiGo and GoAir operated this brand of Airbus.

DGCA passed the directive to ground eight A320neo operated by Indigo and three by GoAir until further notice. The civil aviation regulator had asked the US-based manufacturer Pratt & Whitney for a commitment regarding safety concern but did not receive an affirmative response. 

Earlier, CCI has pulled up the company along with other airlines for anti-competition practices. 

Meanwhile at 10:15 hours, the stock of InterGlobe was quoting Rs. 1,254.10 per share, down 1.81 per cent on Tuesday. While the benchmark index Sensex was at 34,007.33, up 0.26 per cent.