InterGlobe Aviation, the parent company of India’s largest airline IndiGo, appointed Kiran Thadimarri as its new Chief Financial Officer (CFO) effective July 28, 2026. Thadimarri, who was serving as Deputy CFO, takes over from Gaurav Negi, who has been redesignated as Advisor to the Managing Director. The leadership change comes at a time when the airline is navigating financial pressures from rising jet fuel costs and a recent quarterly loss.
About InterGlobe Aviation and IndiGo
IndiGo was founded in 2005 by Rahul Bhatia of InterGlobe Enterprises and Rakesh Gangwal, a former US Airways executive. It commenced operations on August 4, 2006 and within six years became the largest airline in India by passenger market share. The airline is headquartered in Gurgaon, Haryana, and is listed on both the BSE and NSE as a constituent of the Nifty 50 index.
As of 2025, IndiGo held a dominant 64.2% domestic market share and operated over 2,700 daily flights to 137 destinations. The company is promoted by InterGlobe Enterprises, a travel and hospitality conglomerate founded by Rahul Bhatia in 1989. IndiGo’s current Managing Director is Rahul Bhatia, who also serves as interim CEO following the resignation of Pieter Elbers in March 2026. The board has named Willie Walsh, the former Director General of IATA, as the incoming CEO.
Kiran Thadimarri: The New CFO
Kiran Thadimarri is a Chartered Accountant with over 24 years of experience across multiple domains of finance, including controllership, financial planning and analysis (FP&A), treasury, capital raising, taxation, audit, and investor relations.
Before his elevation to CFO, Thadimarri served as Deputy Chief Financial Officer of InterGlobe Aviation. Prior to joining IndiGo, he held leadership roles at InterGlobe Enterprises, the parent group, and served as CFO at Udaan, a B2B ecommerce platform. He was also the co-founder and CFO of Genworks Health, a healthcare technology company, and spent more than 13 years at General Electric in various finance leadership positions.
The IndiGo board approved his appointment in a meeting held on July 27, 2026. With his appointment, Thadimarri will also serve as a Key Managerial Personnel (KMP) of the company under the Companies Act, 2013.
Gaurav Negi: The Outgoing CFO
Gaurav Negi had been IndiGo’s Chief Financial Officer since March 2022. He is a Chartered Accountant with more than two decades of experience in finance, corporate governance, and business operations. Negi joined IndiGo as Senior Vice President and Head of Governance, Risk and Compliance in December 2021 before being elevated to CFO in 2022.
Under the new arrangement, Negi has been redesignated as Advisor to the Managing Director with effect from the close of business on July 27, 2026. The company did not specify a reason for the transition beyond the routine leadership change.
Significance of the Appointment
The leadership change at IndiGo’s finance department comes at a critical juncture for the airline. IndiGo reported a consolidated net loss of ₹238 crore for the first quarter of fiscal 2026-27, compared to a net profit of ₹20,496 crore in the same period a year ago. While revenue from operations grew 20% year-on-year to ₹24,584 crore, the airline’s margins were squeezed by a sharp rise in jet fuel prices, which crossed $100 per barrel following geopolitical tensions in West Asia.
Additionally, the airline has been undergoing a broader management transition. CEO Pieter Elbers resigned in March 2026 after a major scheduling crisis in December 2025 that led to the cancellation of thousands of flights. Willie Walsh is expected to take over as CEO by August 2026.
Thadimarri’s appointment signals continuity, given his long association with the InterGlobe group and his deep understanding of the company’s financial operations. His experience spanning General Electric, startups, and the group itself equips him to handle the complex financial challenges the airline currently faces.
Key Takeaways
- Kiran Thadimarri was appointed as the CFO of IndiGo (InterGlobe Aviation) effective July 28, 2026, succeeding Gaurav Negi.
- Thadimarri, a Chartered Accountant, has over 24 years of experience and previously served as Deputy CFO of IndiGo.
- He has held leadership roles at General Electric (over 13 years), Udaan (as CFO), and Genworks Health (as co-founder and CFO).
- Gaurav Negi, who had been CFO since March 2022, has been redesignated as Advisor to the Managing Director.
- IndiGo was founded in 2005 by Rahul Bhatia and Rakesh Gangwal, commenced operations on August 4, 2006, and is headquartered in Gurgaon, Haryana.
- The airline is a Nifty 50 constituent and holds over 64% domestic market share as of 2025.
