Indigo gains as DGCA extends deadline for replacement of all 135 unmodified PW engines

The DGCA has extended the deadline for IndiGo to replace all 135 unmodified Pratt and Whitney (PW) engines from Jan 31 to May 31, PTI reported.

Jan 13, 2020 08:01 IST India Infoline News Service

Shares of Interglobe Aviation (Indigo) are trading higher with a positive bias.

The DGCA on Monday said it has extended the deadline for IndiGo to replace all 135 unmodified Pratt and Whitney (PW) engines from Jan 31 to May 31, PTI reported.

The DGCA had earlier directed the budget carrier to carry out replacements on 97 Airbus A320neo aircraft having turbine blades built with titanium by January 31, 2020 following a series of engine incidents. The airline will have to replace such aircraft with those having sturdier engine turbine blades built with nickel-chromium alloy, according to an earlier directive issued by the aviation regulator.

Last October, an Indigo A320neo heading to Pune suffered a problem with one of its engines during take-off from Kolkata. The aircraft returned to Kolkata and was grounded.

Interglobe Aviation Ltd is currently trading at Rs1,430.75 up by Rs14.5 or 1.02% from its previous closing of Rs1,416.25 on the BSE.
The scrip opened at Rs1,425 and has touched a high and low of Rs1,436.40 and Rs1,408 respectively. So far 10,86,591 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs54,496.77cr.

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