IndiGo, India's largest airline, said on Monday it has appointed insider Kiran Thadimarri as its chief financial officer, replacing Gaurav Negi.

Thadimarri, currently IndiGo's deputy CFO, had previously worked with Indian e-commerce firm Udaan and General Electric. His appointment is effective July 28.

Negi, who had been the airline's finance chief since 2022, would transition to the role of an adviser.

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IndiGo forecast largely flat capacity growth for the current quarter after posting a second consecutive quarterly loss last week.

Margins of airlines such as IndiGo, which do not hedge fuel costs, have been squeezed by a surge in jet fuel prices after the Iran conflict pushed crude oil prices above $100 a barrel.

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