No differences among owners on strategy, says IndiGo’s Ronojoy Dutta

Photo: Reuters

Billionaire founders of IndiGo, Asia’s biggest budget airline by market value, are debating “one issue,” the company’s chief executive officer said, days after local media reported the owners have fallen apart.

“There are absolutely no differences on strategy, no differences on international expansion, no differences on management selection,” CEO Ronojoy Dutta said in a conference call with analysts on Monday. “There is one issue that they are debating right now and we hope to resolve that in the very near future.”

Dutta didn’t elaborate on what the issue is.

The founders of IndiGo — Rakesh Gangwal, a former CEO of U.S. Airways, and Rahul Bhatia, a former airline ticketing agent — have sparred over control of the company, local media reported this month. A statement from Gangwal that followed said he has “no desire or interest” to take over the airline. While there are differences of opinion on certain matters between the two founders, the company has a track record of resolving issues, CEO Dutta said earlier.

Dutta’s statement on Monday comes after shares of InterGlobe Aviation Ltd., which operates IndiGo, dropped the most in a year earlier this month after the reports surfaced. Founded in 2005, IndiGo has quickly outpaced its rivals to grab almost half of the local market, making both founders billionaires.

Bloomberg

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.