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This article is more than 2 year old.

IndiGo's minority shareholders approach board over A320 Neo deal, says report

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Minority shareholders of IndiGo have approached the board of directors with allegations of mismanagement, reported Business Standard.

IndiGo's minority shareholders approach board over A320 Neo deal, says report
Minority shareholders of IndiGo have approached the board of directors with allegations of mismanagement, reported Business Standard.
The shareholders have raised questions over various deals and contracts signed by the carrier, the report said citing sources close to the matter.
The key among them is the deal struck by IndiGo for A320 Neo aircraft, the report said. The carrier had signed an order for 180 A320 Neos back in 2011 followed by 250 more orders in 2015.
The sources quoted in the report claimed that the minority stakeholders have complained that the carrier is reluctant to share details regarding the A320 Neo contract. The fact that the newly inducted aircraft is suffering from various technical issues leading to the grounding of at least a dozen aircraft have made the matter worse, the report added.
The development comes at a time when a rift has surfaced between the company’s promoters Rahul Bhatia and Rakesh Gangwal over strategy issues.
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