Latest news with #PieterElbers
Times
5 days ago
- Business
- Times
The world's third-largest budget airline lands in the UK
IndiGo is an airline in a hurry, according to its chief executive, Pieter Elbers. I'll say — the airline is the third-largest low-cost carrier in the world, flying to more than 130 destinations from India, and much like that country is on a ferocious growth trajectory. It has an order book of more than 900 planes — the fattest in the world, with one plane a week scheduled to be delivered until the end of the decade. And you thought that IndiGo was just the sixth colour of the rainbow? Even if you haven't heard of the airline before now, chances are you'll be familiar with its name soon. This week it launched its first long-haul European flight, between Manchester and Mumbai, India's financial capital. I was at Manchester airport to wave off the inaugural flight and to talk to Elbers about his plans for the world's fastest-growing airline. IndiGo is the latest carrier to try the mid/long-haul low-cost model, although when we meet Elbers is keen to stress that it is not a bargain airline such as Ryanair; rather, it's a more ambitious version of Norse (formed after the demise of Norwegian Air), which has a slim selection of less expensive routes from Europe to the US and South Africa. Elsewhere, the ultra-low-cost European carrier Wizz is flying from London to Saudi Arabia (seven hours, with food, baggage allowance and reclining seats costing extra); while the Malaysian-based AirAsia announced this month that it was eyeing cheap flights connecting the Gulf to Europe, including Gatwick. After the Mumbai-Manchester route, a further 'four to five' European destinations are planned this year, including Amsterdam (launched on July 2), Copenhagen and London in the winter (although Elbers won't be drawn on which airport, my rupee is on Gatwick). • 23 of the best places to visit in India IndiGo 6E032 was the first direct flight from Manchester to India in more than a decade. For the crew, it was their first time working on a nine-hour flight — it is 4,500 miles between the two cities, compared with the 700-odd miles between Mumbai and Delhi that the airline plies about 20 times a day. The three-times-a-week Manchester-Mumbai route, as well as IndiGo services to other European destinations, will be flown by six Boeing 787 Dreamliners leased from Norse until the first of its 60 Airbus A350s are delivered in 2027. 'We didn't want to wait for the A350s to arrive,' Elbers says. See? In a hurry. 'When I joined IndiGo in 2022 the ambition was to make it into a global aviation giant,' Elbers says, adding that it is a great opportunity to connect more Indian cities to destinations around the world. At first he focused on routes to cities in the Caucasus region (Almaty, Tashkent, Tbilisi), then east Africa (Kenya) and southeast Asia (Bali). But Europe — where he was previously based, running KLM — was always in his sights. So what can passengers expect on board? Although IndiGo started as a low-cost carrier and still follows that model for its domestic flights, the long-haul experience is probably best described as having a souped-up budget. In economy there are 282 seats in a 3-3-3 configuration; in the premium 'Stretch' cabin, which is more like premium economy (note: no flatbeds), it's roomier, with seats laid out as 2-3-2. A baggage allowance and meal service is included in the airline's ticket prices, as they are for its low-cost domestic flights in India; alcoholic drinks are also included for Stretch passengers. There will be a focus on Indian products, including with the catering. • Read more on air travel It's cheap too. For example, on July 2, a one-way ticket from Manchester to Mumbai costs £288 in economy or £674 in Stretch, with the economy fare equating to about 6p a mile. A one-way fare for London to Mumbai with British Airways on the same date, including only cabin baggage, is £532. Elbers is not bothered by labels when I ask whether IndiGo is a budget or hybrid carrier. 'It's not relevant,' he says. 'What's important is that we don't have the complexity that the legacy carriers have, where you have to pay for each step along the way. IndiGo is a comprehensive, straightforward proposition.' Air safety was brought into sharp focus on July 12 when Air India flight 171 from Ahmedabad to Gatwick crashed shortly after take-off, killing 260 people, with the cause yet to be determined, and it's fair to say that there is now a degree of nervousness about Indian carriers. Elbers won't be drawn into talking about the impact of the crash on IndiGo's operations, although the carrier is providing direct links at a time when Air India has cancelled a number of its UK routes. 'There is a lot of focus and attention on what happened — rightfully so,' he says. 'The Indian regulator has announced a set of additional steps to be taken, some specifically on aircraft. It's important to wait for the outcome of the investigation.' • Read more on Mumbai Elbers is similarly stoic about the uncertain geopolitical situation in the Middle East and the Tetris puzzle of airspace closures that stretch from Europe to Asia. 'As an operator you have to deal with it,' he says. 'When it comes to current airspace closures, for example for Indian carriers to not fly over Pakistan we have suspended two of our flights to central Asia, while flights from northern India to the Gulf are now 20 minutes longer.' He adds that if airspace closures persist, IndiGo 'will adjust the network or adjust the prices'. IndiGo's expansion mirrors that of the country whose flag it bears — India is the world's largest country in terms of population, as well as the fourth biggest economy, after China, the US and Germany. But despite rapid growth, tourism is sluggish, not helped by a complicated visa system — the latest figures show that in 2023 it had 9.5 million overseas visitors (Vatican City, the world's smallest country, has about six million a year). However, with increased connectivity comes an opportunity for European travellers to explore India beyond the gateways of Delhi and Mumbai and visit thrilling cities such as Hyderabad, Bangalore and Calcutta, as well as the beaches beyond Goa and national parks other than Ranthambore in Rajasthan, if the red tape surrounding the visa process can be addressed. Elbers is confident that the process will eventually get easier. 'India is still unexplored,' he says. 'The variety and beauty of the country is unmatched but relatively unknown.' Closer to home there is little doubt about the impact that this new direct service to India will have on Manchester and the wider region in the north of England. Chris Woodroofe, the managing director of Manchester airport, says that the flights 'will make a massive difference' to the fortunes of the area, while Vishakha Yaduvanshi, the Indian consul general in Manchester, says that they will 'deepen ties between the UK and India'. Back to Terminal 2 departures at Manchester, and at the ten check-in desks in row F the mood is buoyant — the inaugural Mumbai-Manchester service has touched down 25 minutes early. Passengers inch past balloon displays in the blue and silver IndiGo livery and families, couples and a few stray backpackers are handed mango sweets to celebrate. Almost three hours later, at 12.37pm, I watch as Flight 6E032 heads down the runway and banks right to begin its journey back to Mumbai. With IndiGo's aggressive ambitions, I doubt it'll be long before I'm on board too.
Entrepreneur
7 days ago
- Business
- Entrepreneur
IndiGo Ventures Secures INR 450 Cr in First Close, Invests in Jeh Aerospace
The fund plans to continue investing in startups from pre-Series A to Series B stages. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. IndiGo Ventures, the corporate venture capital arm of airline IndiGo, has announced the first close of its debut fund at INR 450 crore. The fund, launched in August 2024 with SEBI's approval to raise up to INR 600 crore, aims to back early-stage startups that are shaping the future of aviation and related industries. With the initial corpus secured, IndiGo Ventures has made its first investment in Jeh Aerospace, a Hyderabad-based aerospace and defence manufacturing startup. While the amount remains undisclosed, the investment is intended to fuel Jeh's growth in digital manufacturing and AI-enabled production systems. "This investment also strengthens the Indo-US aerospace ties, advances Make-in-India and accelerates innovation, contributing to realising India's potential to become a global aerospace and aviation hub," said Pieter Elbers, CEO of IndiGo. Jeh Aerospace was founded by aerospace veterans Vishal Sanghavi and Venkatesh Mudragalla, both of whom have worked with Tata's joint ventures with Boeing, Lockheed Martin, and Sikorsky. The company specialises in precision manufacturing, engineering, and supply chain solutions for the global aerospace industry. Within a year of operations, Jeh has scaled to a team of 100 engineers and technicians, delivered over 100,000 flight-critical components, and secured USD 100 million in long-term contracts with global clients. The fresh capital will support the company's efforts to expand its AI-driven production capabilities and deepen its talent pool. "Partnering with IndiGo Ventures allows us to accelerate our mission of redefining aerospace manufacturing from India," said Vishal Sanghavi, Co-founder of Jeh Aerospace. The fund plans to continue investing in startups from pre-Series A to Series B stages, aiming to align innovation with IndiGo's long-term strategic interests in the aviation sector.
United News of India
10-07-2025
- Business
- United News of India
IndiGo Ventures takes flight with first close of its fund at Rs 450 crore; makes debut investment in Jeh Aerospace
Hyderabad, July 9 (UNI) IndiGo Ventures, the corporate venture capital arm of India's preferred airline IndiGo, today announced the first close of its maiden fund at Rs 450 crore. This is IndiGo Ventures' first investment in Jeh Aerospace, a Hyderabad-based startup reimagining aerospace component supply chains through precision engineering, cost-efficient manufacturing, and seamless digital integration. In August last year, IndiGo Ventures, launched with regulatory approval from SEBI to raise Rs 600 crore, is focused on investing in early-stage startups driving innovation in aviation and allied sectors. The fund targets companies at the pre-Series A to Series B stages, with an emphasis on long-term strategic alignment, the company said in a release. This first close and investment marks a significant step in IndiGo's broader innovation agenda—combining operational expertise with capital to empower entrepreneurs solving critical challenges in aerospace and related domains. Coinciding with this milestone, the firm has also approved its first investment in Jeh Aerospace (for an undisclosed amount), one of the fastest-growing aerospace startups focused on high-precision aerospace and defence manufacturing. Within its first year of operations, Jeh Aerospace has scaled to a 100-member team of specialised engineers and technicians, delivered 100,000 flight-critical aeroengine components and precision tools meeting AS9100 standards, and secured $100 million in long-term contracts with global aerospace companies. Pieter Elbers, Chief Executive Officer at IndiGo, said: 'Through IndiGo Ventures, we are excited to partner with Jeh Aerospace, a homegrown brand that shares our vision and spirit of strengthening the Indian aviation ecosystem. This investment also strengthens the Indo-U.S. aerospace ties, advances Make-in-India and accelerates innovation, contributing to realising India's potential to become a global aerospace and aviation hub.' Vishal R. Sanghavi, Co-founder & CEO, Jeh Aerospace, said: 'This investment empowers us to scale production capacity to meet growing demand from our global customers, ensuring flawless, on-time delivery of high-precision components'. Despite India being one of the world's fastest-growing aviation markets, the country is still a small player in the global aerospace manufacturing industry, highlighting a significant gap in domestic manufacturing capacity. Jeh will deploy the investment to scale its advanced digital manufacturing infrastructure, enhance its AI-driven production optimisation and deep supply chain integration platforms, and attract world-class engineering and production talent. Founded by industry veterans Vishal Sanghavi and Venkatesh Mudragalla—alumni of Tata's aerospace joint ventures with Boeing, Lockheed Martin, and Sikorsky—Jeh Aerospace combines deep sectoral expertise with sharp operational execution. UNI KNR RN
The Hindu
09-07-2025
- Business
- The Hindu
IndiGo Ventures invests in Jeh Aerospace, secures ₹450 crore for maiden fund
IndiGo Ventures, the corporate venture capital arm of air carrier IndiGo on Wednesday announced the first close of its maiden fund at ₹450 crore. The firm has also approved its first investment in Jeh Aerospace, a Hyderabad-based aerospace startup focused on high-precision aerospace and defence manufacturing. It, however, did not disclose how much it is investing. Within its first year of operations, Jeh Aerospace has scaled to a 100-member team of specialised engineers and technicians, delivered 1,00,000 flight-critical aeroengine components and precision tools meeting AS9100 standards and secured $100 million in long-term contracts with global aerospace companies, IndiGo Ventures said. Jeh will deploy the investment to scale its digital manufacturing infrastructure, enhance AI-driven production optimisation and deep supply chain integration platforms and attract world-class engineering and production talent. Launched in August 2024 with regulatory approval from SEBI to raise ₹600 crore, IndiGo Ventures is focused on investing in early-stage startups driving innovation in aviation and allied sectors. The fund targets companies at the pre-Series A to Series B stages, with an emphasis on long-term strategic alignment, it said in a release. 'Through IndiGo Ventures, we are excited to partner with Jeh Aerospace, a homegrown brand that shares our vision and spirit of strengthening the Indian aviation ecosystem. By combining our technical expertise and global footprint, this partnership will propel use of next-generation technology in the aerospace and aviation sector,' IndiGo CEO Pieter Elbers said. 'The investment will empower to scale production capacity to meet growing demand from global customers, ensuring flawless, on-time delivery of high-precision components,' Jeh Aerospace co-founder and CEO Vishal R. Sanghavi said.
Time of India
09-07-2025
- Business
- Time of India
IndiGo Ventures closes maiden fund of Rs 450 crore; to invest 'undisclosed amount' in Jeh Aerospace
NEW DELHI: IndiGo Ventures, the corporate venture capital arm of India's biggest budget airline, Wednesday announced the first close of its maiden fund at ₹450 crore. An undisclosed amount will be invested in Jeh Aerospace, one of the fastest growing aerospace startups focused on high- precision aerospace and defence manufacturing. Tired of too many ads? go ad free now IndiGoVentures was launched in Aug 2024 to raise ₹600 crore and invest in early-stage startups driving innovation in aviation and allied sectors. IndiGo CEO Pieter Elbers said: 'At IndiGo, we are driven by a vision of connecting India to the world and making it a global aviation hub. Through IndiGo Ventures, we are excited to partner with Jeh Aerospace, a homegrown brand that shares our vision and spirit of strengthening the Indian aviation ecosystem. By combining our technical expertise and global footprint, this partnership will propel use of next-generation technology in the aerospace and aviation sector. This investment also strengthens the Indo-U.S. aerospace ties, advances make-in-India and accelerates innovation, contributing to realising India's potential to become a global aerospace and aviation hub.' Jeh Aerospace co-founder & CEO Vishal R. Sanghavi said: 'At Jeh Aerospace, we are forging a future-ready aerospace ecosystem by leveraging India's exceptional talent, advanced manufacturing, and AI-driven digital platforms. This investment empowers us to scale production capacity to meet growing demand from our global customers, ensuring flawless, on-time delivery of high-precision components… thrilled to collaborate with IndiGo… to drive innovation and shape the future of aerospace together. Tired of too many ads? go ad free now ' With a 100-member team of specialised engineers and technicians, Jeh Aerospace delivered a lakh flight-critical aero engine components and precision tools and secured $100 million in long-term contracts with global aerospace companies. This is IndiGo Ventures' first investment in Jeh Aerospace, which has been founded by Vishal Sanghavi and Venkatesh Mudragalla — alumni of Tata's aerospace joint ventures with Boeing, Lockheed Martin, and Sikorsky.
