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Difference of opinion between promoters got nothing to do with airline: Indigo CEO to employees

Zee News 2019-07-10 13:54:19

New Delhi: Indigo CEO Rono Dutta on Wednesday told his employees that difference of opinion between the company's promoters has got nothing to do with the airline and its functioning, adding that it get sorted out eventually.

In a letter to Indigo employees, Dutta said, “I am sure you have all seen the media reports about a difference of opinion between our promoters. The issues between them will eventually get sorted out but I want to stress that these issues have nothing to do with the airline and its functioning. Our mission, direction and growth strategy remains unchanged, and firmly in place. As such it is very important that we all remain focused on running a high performance airline.”

Shares of Interglobe Aviation Ltd fell as much as 19 percent at opening on Wednesday. The scrip pared some losses but was still down 11.38 percent to Rs 1,387.60 a piece on BSE at 1.41 pm.

“Absolutely nothing has really changed for any of us, I will just go about doing my job to the very best of my abilities, and I know I can count on you to do the same. Thank you for your dedication and efforts towards delivering our promise of on-time, courteous and hassle-free experience,” he added.

Rakesh Gangwal, one of the co-founders of the airline, has alleged violation of corporate governance rules at Indigo, seeking regulatory intervention from market regulator Sebi.

Gangwal, along with his affiliates, hold 37 percent stake in IndiGo while the other co-promoter Rahul Bhatia has 38 percent equity stake.

Sebi has sought a reply from parent company Interglobe Aviation by July 19.