IndiGo CEO Pieter Elbers has stepped down with “immediate effect”, the airline said yesterday (March 10).
Elbers has led the company since September 2022. He was previously president and CEO of KLM from 2014.
In his resignation letter, Elbers said the departure was a result due to “personal reasons” and requested his notice period to be waivered. He said he would be available for handover or transition support.
“It has been both an honor and privilege to serve as IndiGo's CEO these past years, since September 2022, and being a part of the great IndiGo family, it's beautiful growth story and the steps we have made together in this,” said Elbers.
The departure follows the airline cancelling hundreds of flights in December, disrupting thousands of passengers' plans, after failing to properly effectively prepare for India's new aviation staffing regulations.
The issue stemmed from a new rest requirement regulation put into place by the DGCA in November. The new rules included a floor on the number of off-days per week and limits on consecutive working days.
Moody's flagged Indian airline IndiGo as "credit negative" in December due to the issue.
The ratings agency said IndiGo failed to appropriately plan for the new regulations, with them first being communicated in January 2024. The ratings agency cited its “significant lapses in planning, oversight and resource management” as the root cause.
The company's managing director Rahul Bhatia will assume interim management of the airline until it finds a new leader.
“Having founded and nurtured IndiGo for twenty two years, I feel a deep sense of personal commitment and responsibility towards our nation, and towards the airline’s customers, employees, shareholders and all other stakeholders,” said Bhatia.
Bhatia will focus on strengthening the company's culture, operations, service, and stakeholder trust.