IndiGo parent’s shares drop after airline warns of more groundings from Pratt issues

Bengaluru: Shares of IndiGo fell 1.5 per cent on Wednesday after the airline warned that more planes could be grounded due to the latest troubles with Pratt & Whitney engines, leading to the potential withdrawal of nearly a quarter of its fleet.

India’s top airline, listed as Interglobe Aviation , said late on Tuesday it sees groundings of its Airbus in the range of “mid-thirties” due to a powder metal issue, days after it said about 40 planes were pulled out of service for a separate problem with the engines.

Both combined would add up to about a quarter of its total fleet of 334 planes – a large number of which are fitted with Pratt engines. The troubles come at a time when India’s air travel market is rapidly growing.