India's largest airline IndiGo has tried to assuage the concerns of its employees after media reports emerged on Wednesday regarding alleged disagreements between the two promoters Rahul Bhatia and Rakesh Gangwal.
In a mail to the staff, IndiGo CEO Ronojoy Dutta has said the growth strategy of the airline remains fully in place and the company board has assigned the management to implement it.
"I am sure that you are all aware of the press reports regarding alleged disagreements between our two promoters Mr Rahul Bhatia and Mr Rakesh Gangwal. 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. We will continue our focus on creating value for all our shareholders, our customers, our employees and the communities we serve," Dutta said.
On Wednesday, a report in ET Now said the two promoters have hired law firms Khaitan and Co and J Sagar Associates to resolve some problems. CNBC-TV18 has been able to independently verify it and sources say that the differences are likely to be about the path ahead for IndiGo, which now holds 47 percent market share in India and plans to become an aggressive international player as well.
While Rakesh Gangwal family holds around 36.7 percent stake in the airline, Rahul Bhatia family holds 38.3 percent.
IndiGo has shied away from giving a comment on the matter so far.
First Published:May 16, 2019 2:54 PM IST