Interglobe Aviation's shares slid 9% after a recent report by the Economic Times has said that the owners of its parent company IndiGo are at odds over plans to expand.
The report states that Rahul Bhatia and Rakesh Gangwal, the co-founders and two largest shareholders of India’s largest airline, are disagreeing over their strategies and ambitions for the airline.
Both Bhatia and Gangwal each hold 40% in the airline’s holding company, giving them both a major say in its strategy and plans.
Reuters is reporting that IndiGo sought to allay concerns about the discord.
In an email, IndiGo chief executive Rono Dutta said: “I want to assure you that the growth strategy of the airline remains unchanged and firmly in place."