IndiGo owner Interglobe Aviation’s shares tumbled 9% on airline founder feud


IndiGo owner Interglobe Aviation’s shares tumbled 9 percent on Thursday after a report that the co-founders and two largest shareholders of India`s largest airline were at odds over its expansion.

The Economic Times (ET) reported that serious differences had arisen between the airline`s co-founders that could have an impact on the functioning of the company. Citing sources close to the matter, the newspaper said among the issues were clauses in the shareholders` agreement and differences between the founders over their strategies and ambitions for the airline.

Co-founders Rahul Bhatia and Rakesh Gangwal, along with their respective families, each control stakes of slightly less than 40 percent in the airline`s holding company, giving them both a major say in its strategy and plans. IndiGo sought to allay concerns about the discord. Read More

You may also read!

Chandrayaan 2’s Orbitor weighs close to 3 Nano cars! Know cool weighty facts about ISRO’s lunar craft

Chandrayaan 2 facts: India’s lunar spacecraft, which is now one step closer to the Moon, has some amusing weighty issues!

Read More...

Despite ban, Jaish-e-Muhammad reappears on social media to instigate Islamists in Kashmir to heighten protest against India

Even as the United States has hailed Pakistan for “initial steps” taken against the Jaish-e-Muhammad, the internationally-proscribed terrorist group

Read More...

Like China, Pakistan is using Islamabad & Karachi’s civil airports for military purposes

Following its friend China’s lead, Pakistan has taken to using its civilian airports for military purposes as well. The old

Read More...

Leave a reply:

Mobile Sliding Menu