IndiGo to receive compensation from Pratt & Whitney for engine issues

The institution did not disclose the magnitude of the compensation, stating that it volition beryllium received done the Pratt & Whitney affiliate, International Aero Engines.

The stocks of InterGlobe Aviation closed successful red, down 0.79 per cent astatine ₹4267.10, connected June 14, connected BSE. The institution enjoys a marketplace capitalisation of ₹1,64,701.39 crore arsenic per BSE. The institution had deed a 52-week precocious of ₹4,609.80 connected June 10, 2024, presently down by implicit 7 per cent.

"This is successful continuation to our disclosure dated 7 November, 2023 (Ref-IGAL/SECT/11-23/11) filed nether Regulation 30 of SEBI LODR Regulations successful narration to preliminary interaction appraisal of Pratt & Whitney pulverization metallic issue, resulting successful removal of higher fig of engines from work and grounded for inspection and replacement," the institution said successful an speech filing.

On June 14, 2024, InterGlobe Aviation Limited ('IndiGo') finalized an amendment to the existing statement with International Aero Engines, LLC ("IAE"), an affiliate of Pratt & Whitney. According to the company, "IAE volition supply IndiGo with a customized compensation successful narration to the ongoing concern of Aircraft connected Ground owed to unavailability of engines."

Currently, implicit 70 IndiGo craft are grounded owed to issues with Pratt engines. More than 30 of these craft are affected by a pulverization metallic defect, portion the remaining are impacted by older issues, arsenic per assorted media reports.

In July past year, Pratt & Whitney reported that a uncommon pulverization metallic defect could origin cracking successful immoderate motor components of the twin-engined Airbus A320neo, necessitating accelerated inspections. These checks are expected to effect successful the grounding of 600-700 Airbus jets betwixt 2023 and 2026.

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Published: 15 Jun 2024, 10:03 AM IST