NEW DELHI: IndiGo is not a “fractured” team and the hiring of law firms by its two promoter-cum—co-founders dates back four years when the airline went public. The budget carrier on Saturday night sought to convey this message after it became known that its promoters Rahul Bhatia and Rakesh Gangwal had hired law firms to sort out differences between them, which led to the scrip tanking 9% on Thursday.
Importantly in his Saturday statement, IndiGo CEO Ronojoy Dutta did not deny the differences. “…in any strong and well-managed company there will always be differences. And, yes, there may be differences currently on certain matters but the company has a great track record of resolving issues and coming out ahead. If the current differences were to not get resolved, you shall certainly hear about it; however, it serves no purpose speculating about it,” Dutta’s statement says. Both Gangwal and Bhatia Groups have 37-38% stake in the airline.
