Budget carrier IndiGo has said Pieter Elbers, who was named as the chief executive officer of the company to replace Ronojoy Dutta, has joined the position from Tuesday.
The airline had announced the appointment of Elbers as its new CEO following Dutta’s “decision” to retire on September 30. “…Petrus Johannes Theodorus Elbers (Pieter Elbers) has joined as chief executive officer of the company with effect from September 6,” IndiGo said in a regulatory filing on Tuesday.
The 71-year-old Dutta came to the helm of the airline in January 2019, and guided IndiGo through the turbulent Covid-19 period.
Prior to coming on board the country’s largest airline by domestic market share, Elbers served as the president and chief executive officer of KLM Royal Dutch Airlines and also as a member of the executive committee of the Air France – KLM Group.
He is the fourth CEO of IndiGo since its launch. Bruce Ashby was the first CEO of IndiGo from 2005 to 2008, who also practically launched the airline in August 2006. Following Ashby’s decision to return to the US in late 2008, IndiGo brought in its then director Aditya Ghosh as the new CEO and later elevated him to the position of president at the airline.
After serving the budget carrier for a decade Ghosh quit the company in 2018. While IndiGo appointed Dutta as the CEO after nine months of Ghosh’s departure from the company, in the interim period, IndiGo co-founder and promoter Rahul Bhatia reportedly served as its interim CEO.
The country’s largest carrier last week said the removal of airfare caps will help airlines to increase their passenger load factors by offering discounted fares.
Tata 1mg joins the unicorn club
Tata 1mg, the online pharmacy platform, has joined the unicorn club after mobilising $40 million in a funding round led by Tata Digital. Unicorns are start-ups with a valuation of over $1 billion.
In June 2021, Tata Digital, a wholly-owned arm of Tata Sons, had acquired close to 58.37 per cent in 1mg Technologies. Subsequently, in two steps it bought a total of 4.6 per cent, taking its holding to 62.97 per cent.
Later, Tata Digital entered into a put-call option with the founders of 1mg under which it can acquire the remaining 37 per cent stake.
An Entrackr report said the 1mg board has passed a special resolution to allot 30,992 equity shares at an issue price of Rs 1,03,047 per share to raise Rs 319.4 crore or $40 million.
Tata Digital led the fresh funding round with the infusion of Rs 254.64 crore or close to $32 million, followed by KWE Beteiligungen and HBM Healthcare Investments