Turbulence at the top is bad news for InterGlobe Aviation investors

Disagreements between major shareholders can be an expensive affair. Take the case of InterGlobe Aviation Ltd, which runs IndiGo, India’s largest airline.

Reports of a tussle between the airline’s two largest shareholders made the IndiGo stock nosedive on Thursday. By the end of the day’s trading session, it had lost nearly ₹5,600 crore, or about $800 million.

For perspective, that amounts to about 70% of the market capitalization of one of IndiGo’s competitors, SpiceJet Ltd.

To put it simply, investors are worried.