InterGlobe Aviation Limited has announced the appointment of Mr. Aloke Singh as Chief Strategy Officer, effective April 6, 2026. The Board of Directors approved this appointment during their meeting held on March 23, 2026, based on the recommendation of the Nomination and Remuneration Committee. The company has filed the necessary disclosures under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Appointment Details

Professional Background and Experience

Mr. Singh brings over three decades of comprehensive aviation industry experience spanning multiple critical functions including strategy, planning, operations and commercial domains. His career demonstrates a proven track record of leading complex operational and cultural transformation initiatives while driving rapid growth and managing large-scale expansion programmes.

Most recently, Singh served as Managing Director and Chief Executive Officer of Air India Express, where he played a pivotal role in the airline's transformation journey. During his tenure, he delivered significant operational improvements and drove rapid growth for the carrier. His previous experience includes senior leadership positions at Air India and Oman Air, particularly in strategic planning domains.

Role and Responsibilities

In his new position as Chief Strategy Officer, Singh will spearhead the company's long-term strategic planning function and drive enterprise-wide transformation initiatives. His primary focus areas will include:

• Accelerating organizational growth
• Enhancing operational efficiency across all functions
• Strengthening competitive positioning in the rapidly evolving global aviation landscape
• Partnering with leadership team on cross-functional priorities
• Improving organizational agility and customer experience
• Delivering sustainable shareholder value

Leadership Perspectives

Managing Director Rahul Bhatia welcomed the appointment, highlighting Singh's exceptional blend of strategic vision and operational depth. Bhatia emphasized that Singh's comprehensive understanding of the aviation ecosystem will be invaluable as IndiGo builds a more agile, resilient and future-ready organization while accelerating its next phase of growth. Bhatia noted that Singh will initially report to him, with a transition to the new CEO once appointed.

Singh expressed his enthusiasm about joining IndiGo at what he described as a pivotal moment for both the airline and Indian aviation industry broadly. He acknowledged IndiGo's success in redefining India's domestic and short-haul international aviation landscape and looks forward to supporting the airline's global ambitions.

About IndiGo's Current Operations

The appointment reflects IndiGo's continued focus on strengthening its leadership team as the airline pursues its expansion strategy and maintains its position as India's preferred carrier and among the fastest-growing airlines globally. The company has completed all necessary regulatory filings and disclosures as required under SEBI regulations.

Interglobe Aviation has received a revised rating from Goldman Sachs, with the global investment bank maintaining its Buy recommendation while adjusting the target price downward. The brokerage has cut its target price from Rs 6000 to Rs 5200, reflecting concerns about near-term operational challenges facing the airline industry.

Rating and Target Price Revision

Near-Term Challenges

Goldman Sachs identified several factors contributing to the estimate cuts and target price reduction. The investment bank highlighted higher fuel costs as a primary concern, which continues to pressure airline margins across the industry. Supply constraints represent another significant challenge, potentially limiting the airline's ability to expand capacity in line with demand recovery.

Additionally, weak Middle East traffic has emerged as a specific concern for IndiGo's international operations. This weakness in a key route segment has contributed to the brokerage's more cautious near-term outlook for the airline's performance.

Long-Term Investment Thesis

Despite the near-term headwinds, Goldman Sachs remains constructive on IndiGo's long-term prospects. The brokerage emphasized several key strengths that support the continued Buy rating:

• Strong cost control measures: IndiGo's ability to maintain operational efficiency
• Robust balance sheet: Financial strength to navigate industry challenges
• Consolidation theme: Potential benefits from ongoing industry consolidation

These factors collectively support Goldman Sachs' confidence in the airline's ability to deliver value to shareholders over the longer term, even as it navigates current industry pressures.