IndiGo shares jump 4% after appointing former Air India Express CEO Aloke Singh as chief strategy head

Shares of IndiGo rallied as much as 4% to their day's high of Rs 4,097 on the BSE on Tuesday after the aviation major announced that it has named former Air India Express CEO Aloke Singh as its chief strategy officer, tasking him with steering the airline’s long-term plans.

His role will include overseeing major initiatives such as the induction of Airbus A350 aircraft into the fleet and the development of hub airports. The planned induction of the Airbus A350 in 2028 is a significant milestone for IndiGo, as it will allow the airline to begin long-haul transcontinental operations. Singh will report to promoter Rahul Bhatia, who is currently managing the airline as interim CEO.

The move comes amid leadership changes at IndiGo following the resignation of chief executive Pieter Elbers on March 10. Bhatia stepped in to take charge after his departure. Elbers’ exit came in the wake of an operational disruption in December 2025, when the airline cancelled more than 4,200 flights between December 1 and 9 due to a shortage of pilots needed to meet stricter flight duty time limitation norms introduced in November.


“Aloke brings an exceptional blend of strategic vision and operational depth. His comprehensive understanding of the aviation ecosystem will be invaluable as we build a more agile, resilient and future-ready organisation, and accelerate our next phase of growth,” Bhatia said.

Singh has over three decades of experience spanning strategy, planning, operations and commercial roles in the aviation sector. During his time at Air India Express, he led a period of transformation that included the airline’s shift from government ownership to the Tata Group, its merger with AirAsia India, expansion of its fleet and a brand revamp.

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On Monday, shares of IndiGo were in focus after international brokerage firm Goldman Sachs trimmed its target price while maintaining its Buy call on the counter. The international brokerage has cut the target by 13.3% to Rs 5,200 apiece, lower from Rs 6,000 earlier. The new target price implies an upside potential of around 32% from the last closing price of Rs 3,950 per share.

Analysts said this is due to rising fuel costs and near-term weakness in Middle East traffic. The brokerage now expects EBITDAR of around Rs 13,700 crore for FY26, Rs 15,900 crore for FY27 and Rs 24,400 crore for FY28.

It added that industry consolidation is likely amid ongoing supply constraints, which could support market share gains for IndiGo as weaker players exit. Goldman Sachs also highlighted the airline’s net cash balance sheet as a key strength.

Last week, the airline introduced a fuel surcharge on domestic and international flights, citing a sharp surge in jet fuel prices amid ongoing geopolitical tensions in the Middle East.

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