IndiGo's chief executive officer Ronojoy Dutta on December 30 assured shareholders of the airline that the company will emerge stronger after facing nearly two years of uncertainty due to the COVID-19 pandemic.
Speaking at the extraordinary-general meeting (EGM) of InterGlobe Aviation, Dutta said that while at the moment, flight bookings have taken a hit given the outbreak of the Omicron variant of COVID-19, the aviation industry in India is still showing strong signs of recovery and any fall in bookings is likely to be temporary.
The EGM was called by promoters of IndiGo Rakesh Gangwal and Rahul Bhatia to propose amendments to the carrier's Articles of Association (AoA) that would resolve the issues between the two.If the resolution is accepted, it would end the dispute between the owners Bhatia and Gangwal, who collectively hold 74.44 percent of the paid-up equity share capital and have been at loggerheads for more than two years now.
The resolution is expected to pass smoothly, given that both the promoters have jointly called the meeting. Once passed, it would allow either side to sell or transfer shares to a third party, without giving each other notice.The shareholders in the EGM were required to vote on the resolution and the result of the EGM voting that took place via video conferencing would be uploaded within two working days.
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