IndiGo CEO: Airline's management fully backed by board to implement growth strategy

Published: May 16, 2019, 17:48 IST | mid-day online desk

The CEO of the company said that the company continues to focus on creating value for all shareholders, customers, employees and the communities it serves

IndiGo CEO: Airline's management fully backed by board to implement growth strategy
IndiGO

Following the rift between Indigo's two promoters - Rahul Bhatia and Rakesh Gangwal, the airline's CEO Ronojoy Dutta sent out an email on Thursday to employees regarding the growth strategy of the airline. IndiGo airline, which currently has a 44 per cent share in the domestic passenger market, is owned and managed by InterGlobe Aviation.

In the email, he said that the growth strategy of IndiGo remains unchanged. He also assured that the airline's management has the full backing of the company's board of directors to implement it.

"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.

After the media reports cropped up citing serious differences among the two chief promoters over strategies and ambitions for the airline, the CEO of the company said that the company continues to focus on creating value for all shareholders, customers, employees and the communities it serves.

However, latest reports suggest that the two promoters are taking help from law firms J Sagar Associates and Khaitan & Co, respectively. The step is taken to resolve the differences amicably so that it does not affect the airline's functioning.

In regards to the matter, the news agency PTI had sent out specific queries to IndiGo which did not respond yet.

While 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.

(With inputs from PTI)

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