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Billionaires founders of IndigoAsia's largest low-cost airline, in terms of market value, discusses "a problem," said company president and CEO shortly after local media reported that owners had collapsed.
"There is absolutely no difference in strategy, no difference in international expansion, no difference in the selection of leaders," said CEO Ronojoy Dutta during a conference call with badysts. "There is a problem they are discussing right now and we hope to solve it in the very near future."
Dutta did not explain what the problem is.
The founders of IndiGo – Rakesh Gangwal, former CEO of US Airways, and Rahul Bhatia, former airline ticket agent – took control of the company, local media reported this month. A statement from Gangwal that followed stated that he had "no desire or interest" to regain control of the airline. Although there are divergent opinions on some issues between the two founders, the company has experience in problem solving, said earlier CEO, Dutta.
Dutta's statement on Monday comes after InterGlobe Aviation Ltd. shares, which operates IndiGo, recorded the biggest drop in a year earlier this month after the release of this information. Founded in 2005, IndiGo quickly surpbaded its competitors to capture nearly half of the local market, making billionaires of the two founders.
Bloomberg
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