Web Hosting
FreeCurrencyRates.com

इंडियन आवाज़     26 May 2019 04:40:27      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Your email address will not be published.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 *

Ad
Ad

ELECTIONS

Major victory for NDA in Bihar

File photo Anwarul Hoda / Patna As all the results have been declared in Bihar, out of 40 seats BJP has bagg ...

Haryana fully backs Modi, gives all 10 Lok Sabha seats to BJP 

AMN / CHANDIGARH The BJP has registered major victory as it has won all 10 Lok Sabha seats in Haryana. Union ...

Punjab, a ray of hope for congress in North India

By Onkar in Singh The results of all the 13 Lok Sabha seats in Punjab have come in. Congress which has been r ...

Ad

SPORTS

BOXING: India bags 57 medals at India Open International tournament

GUWAHATI India bags a total of 57 medals including 12 Gold, 18 Silver and 27 Bronze at India Open Internation ...

Boxing: Mary Kom, Shiva Thapa Amit Panghal fight their way to gold

Harpal Bedi / Guwahati ix-time world champion Mary Kom was crowned the 51kg champion while Amit Panghal (52kg ...

Hockey: Indian women clinch 3-match series beating S Korea 2-1

  By Harpal Singh Bedi India survived some anxious moments before putting it across host Korea 2-1 to r ...

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

66th National Film Awards to be declared after General Elections

  The 66th National Film Awards will be declared after General Elections, 2019. In a statement, Informat ...

Priyanka Chopra is among world powerful women

AGENCIES   Bollywood actress Priyanka Chopra Jonas has joined international celebrities including Opr ...

Ad

ART & CULTURE

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 ...

Noted Urdu writer Jamil Jalibi is no more

  Author of the seminal history of Urdu literature, editor of one and founder of another eminent literar ...

@Powered By: Logicsart