IndiGo Promoter Dispute Has Nothing To Do With Airline’s Functioning, CEO Tells Employees
The airline’s mission, direction and growth strategy remains unchanged, and firmly in place, says IndiGo CEO Ronjoy Dutta.
The dispute between InterGlobe Aviation Ltd. promoters Rakesh Gangwal and Rahul Bhatia has nothing to with the airline or its functioning, Chief Executive Officer Ronojoy Dutta said in a letter to IndiGo employees on Wednesday, a day after the Indigo promoter dispute became public.
"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," Dutta said, adding that the airline's mission, direction and growth strategy remains unchanged, and firmly in place. "...it is very important that we all remain focused on running a high performance airline," he said, asking the employees to continue their work as usual.
"Absolutely nothing has really changed for any of us, I will just go about doing my job to the 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.”
In a letter to the markets regulator on Tuesday, Gangwal alleged serious governance lapses by Bhatia, who had earlier termed his demands as unreasonable.
With the issues brewing for nearly a year, Gangwal sought Securities and Exchange Board of India’s intervention to address the problems.
Alleging that the company has "started veering off" from the core principles and values of governance, Gangwal said that even a "paan ki dukaan" would have managed matters with more grace.
Flagging concerns about certain questionable related party transactions, Gangwal said the shareholders' agreement provides his long-time friend Bhatia unusual controlling rights over IndiGo.