New Delhi: "You don't see the board room issues impacting the performance of the
airline," civil aviation minister Hardeep Singh Puri said on Monday over differences
between promoters at IndiGo, which is the country's largest airline.
His remarks came during a briefing about Air India disinvestment in response to a query on whether sentiments could be impacted as the sale is also happening at a time when there is a possibility of a promoter exiting IndiGo.
"I see no difficulties...," the Minister of State for Civil Aviation said about the possible impact of IndiGo issue on Air India stake sale. The government on Monday issued a Preliminary Information Memorandum (PIM) for 100 per cent stake sale in Air India.
The differences between co-founders and co-promoters -- Rakesh Gangwal and Rahul Bhatia -- came to the fore in July 2019 after Gangwal sought market regulator Sebi's intervention to address alleged corporate governance lapses at the company. In the wake of the feud, arbitration proceedings are also going overseas between the two promoters' sides.
"IndiGo is an internal matter. They will get it resolved... it is the largest domestic carrier, it has 300 aircraft on order, you don't see the board room issues impacting the performance of the airline," the minister said.
27/01/20 PTI/Economic Times
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His remarks came during a briefing about Air India disinvestment in response to a query on whether sentiments could be impacted as the sale is also happening at a time when there is a possibility of a promoter exiting IndiGo.
"I see no difficulties...," the Minister of State for Civil Aviation said about the possible impact of IndiGo issue on Air India stake sale. The government on Monday issued a Preliminary Information Memorandum (PIM) for 100 per cent stake sale in Air India.
The differences between co-founders and co-promoters -- Rakesh Gangwal and Rahul Bhatia -- came to the fore in July 2019 after Gangwal sought market regulator Sebi's intervention to address alleged corporate governance lapses at the company. In the wake of the feud, arbitration proceedings are also going overseas between the two promoters' sides.
"IndiGo is an internal matter. They will get it resolved... it is the largest domestic carrier, it has 300 aircraft on order, you don't see the board room issues impacting the performance of the airline," the minister said.
27/01/20 PTI/Economic Times
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