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InterGlobe - Peermohammed Named Chief Financial Officer of Indigo

20-Feb-2006

InterGlobe Enterprises Limited has named Riyaz Peermohammed as Chief Financial Officer of "IndiGo”, its low-cost airline subsidiary, effective immediately.

Peermohammed will be responsible for all of the financial functions of IndiGo, which has ordered 100 Airbus A320 family aircraft and is planning to launch this year.

"Riyaz has been at the forefront of aviation finance and risk management. His highly relevant experience combined with his proven business acumen, financial skills and strategic capability uniquely position him to take IndiGo's finances forward.  He will be actively involved in the introduction of our new Airbus jets and will play an important role in setting the company's financial strategy," said IndiGo CEO Bruce Ashby.

" India has huge aviation potential and I am looking forward to returning to India and helping IndiGo to grow and to succeed in this dynamic environment. IndiGo has a solid business plan and a highly professional approach, and I am looking forward to working with Bruce and the team at IndiGo to accomplish IndiGo's growth in a way that will set a benchmark for financial excellence," said Peermohammed.

Prior to joining IndiGo, Peermohammed was Senior Vice President – Corporate Treasury of Emirates, a Dubai-based airline, where he led three successful bond issues amounting to a total of  $1.5 billion for the company.  Under Peermohamed's leadership Emirates won several financing awards, including the coveted Global Treasury Team of the Year from Euromoney's Air Finance Journal.  Peermohamed joined Emirates in 1989 from KPMG, when it had just two Airbus aircraft and was responsible for financing its current fleet of 82 wide body aircraft.

Peermohamed graduated from Mumbai University with a Bachelors of Science in 1981. He is a Chartered Accountant from India and has completed the Management Program from the Indian Institute of Management, Ahmedabad. He qualified as a CFA from the Institute of Chartered Financial Analysts , USA in 1994.

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