Indigo Block Deal
According to The Economic Times (ET), the family of IndiGo co-founder Rakesh Gangwal plans to sell a 3.1% share in InterGlobe Aviation through block agreements for around $801 million (Rs 7,020 crore).
According to persons with knowledge of the situation, the shares are being offered for Rs 5,808 each, which is almost 4% less than the going rate in the market, ET reported. By the end of June, the Gangwal family owned 7.81% of the low-cost airline, consisting of 3.08% through the Chinkerpoo Family Trust and 4.73% directly through Gangwal.
According to rumors, JPMorgan, Morgan Stanley, and Goldman Sachs are serving as the transaction’s bankers.
Gangwal’s phased departure from IndiGo, which started when he resigned from the board in February 2022, continues with this stake sale. Gangwal and his affiliated companies owned around 37% of the business at that time. Since then, he has regularly reduced his share through a number of block agreements with his wife, Shobha Gangwal.
Mumbai’s InterGlobe and CAE Launch Pilot Training Center
A new pilot training facility in Mumbai has opened, according to CAE Simulation Training Pvt Ltd (CSTPL), a joint venture between CAE and InterGlobe Enterprises.
The 44,000-square-foot facility is expected to start operations with two Airbus A320 simulators in the first quarter of 2026 and can house up to six full-flight simulators (FFS).
A comprehensive range of training programs encompassing type rating, recurring training, and proficiency checks for Airbus, ATR, and Boeing aircraft will also be offered at the Mumbai center.
India issued 1,342 commercial pilot licenses (CPL) in 2024, a 17% decrease from 2023, according to government figures.
