Pratt & Whitney will reimburse IndiGo for engine problems.
The company that runs IndiGo, InterGlobe Aviation, said on Friday that it will get payment from Pratt & Whitney via International Aero Engines for the powder metal problems that have caused more than 70 of its planes to be grounded. The compensation sum remained undisclosed.
The IndiGo operator, InterGlobe Aviation, stated on Friday that it will be compensated by Pratt & Whitney via its affiliate for powder metal problems that have caused several of its aircraft to be grounded.
The business said that the money will be received through International Aero Engines, a Pratt & Whitney affiliate, but did not reveal how much it would be.
InterGlobe Aviation's shares ended the day on June 14th, down 0.79 percent at ₹4267.10 on the BSE. According to BSE, the business has a market capitalization of ₹1,64,701.39 crore. On June 10, 2024, the company reached a 52-week high of ₹4,609.80; it is currently down by more than 7%.
"This is in continuation to our disclosure dated 7 November, 2023 (Ref-IGAL/SECT/11-23/11) filed under Regulation 30 of SEBI LODR Regulations in relation to preliminary impact assessment of Pratt & Whitney powder metal issue, resulting in removal of higher number of engines from service and grounded for inspection and replacement," the business stated in a filing with the exchange.
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