Web Hosting
FreeCurrencyRates.com

इंडियन आवाज़     17 Jul 2019 04:02:17      انڈین آواز
Ad

Turmoil at IndiGo, Is the airlines heading for trouble like Jet Airways?

 

By Sanjay Singh / New Delhi

Serious differences between the two founders of IndiGo, Rahul Bhatia and Rakesh Gangwal have cropped up over strategies and ambitions for the airline, whic has raised concerns in the industry and the government.

The specific clauses in the shareholders’ agreement that are the bone of contention could be very damaging over which the two stakeholders have issues could affect airline’s functioning , if its left unresolved,, according to industry sources.

In a bid to resolve its differences amicably, Gangwal and Bhatia are taking help from law firms J Sagar Associates and Khatian & Co.
InterGlobe Aviation CEO Ronojoy Dutta in an email to his employees on Thursday has stated that the growth strategy of IndiGo remains unchanged and the airline’s management has full backing of the company’s board of directors to implement it. The email was sent to employees following media reports early today concerning alleged disagreements between the airline’s two promoters.

“I want to assure you that the growth strategy of the airline remains unchanged and firmly in place, and the management is fully charged by the Board to implement it,” Dutta said in the email. “I am sure you are all aware of the press reports regarding alleged disagreements between our two promoters Rahul Bhatia and Rakesh Gangwal,” he added. The CEO said IndiGo would continue to focus on building value for all its shareholders, employees, customers and all other stakeholders.

InterGlobe Aviation which owns and manages IndiGo airline, has close to 44 per cent stake in the domestic passenger market. On the other hand, Gangwal owns around 37 per cent share in InterGlobe Aviation, Bhatia has around 38 per cent share in the company that is listed on the Bombay Stock Exchange.

Leave a Reply

Your email address will not be published. Required fields are marked *

SPORTS

Vijayveer wins his 3rd gold at Junior Shooting World Cup

Vijayveer Sidhu picked up his third gold medal of the ongoing ISSF Junior World Cup in Suhl, Germany, combinin ...

Wimbledon: Novak Djokovic beats Roger Federer in final-set tie-break thriller

Djoker Nole wins his fifth Wimbledon title in an instant classic, defeating Roger Federer 7-6(5), 1-6, 7-6(4), ...

CWC19: ENGLAND WIN WORLD CUP THROUGH SUPER OVER

ENGLAND ARE THE WORLD CHAMPIONS! England beat New Zealand in all-time classic World Cup final A ...

Ad

MARQUEE

116-year-old Japanese woman is oldest person in world

  AMN A 116-year-old Japanese woman has been honoured as the world's oldest living person by Guinness ...

Centre approves Metro Rail Project for City of Taj Mahal, Agra

6 Elevated and 7 Underground Stations along 14 KmTaj East Gate corridor 14 Stations all elevated along 15.40 ...

CINEMA /TV/ ART

Dangal’ girl Zaira Wasim quits Film World, citing religion

Zaira Wasim WEB DESK National Award-winning actor Zaira Wasim who played an important role in film D ...

‘School ends, learning doesn’t’, says SRK to daughter Suhana Khan who completes graduation

WEB DESK https://www.instagram.com/p/BzQuUA1FF8W/ Shah Rukh Khan’s daughter Suhana Khan is gradu ...

Ad

ART & CULTURE

Noted English writer Amitav Ghosh conferred Jnanpith award

    AMN Renowned English writer Amitav Ghosh was conferred the 54th Jnanpith award for the ...

Sahitya Akademi demands Rs 500/- from children for Workshop

Andalib Akhter / New Delhi India’s premier literary body, the Sahitya Akademi, which gives huge awards, p ...

@Powered By: Logicsart