IndiGo co-founder Rakesh Gangwal seeks to ease rules on shareholdings.
Pushing for Change: Rakesh Gangwal, who co-founded IndiGo with Rahul Bhatia, is seeking to modify rules on the sale and purchase of shares by its main shareholders.
Gangwal, who alleged violations of corporate governance rules at the parent group in July is seeking to delete certain rules in the company's articles of association that give Bhatia the right of first refusal should Gangwal choose to sell his shares
Gangwal also wants to remove an article that prevents either of the co-founders from buying publicly-listed shares in InterGlobe. ET Markets
Feel the Heat Yet?: Airlines in India are likely to feel the heat of the increase in crude oil prices following the US air strike that killed a top Iranian General.
Oil prices surged 4% to around $70 in the aftermath of the air strike.
Jet fuel accounts for one-third of the costs for Indian carriers, which were already struggling when oil was hovering at $65-66 per barrel. If the conflict between the US and Iran worsens, and crude prices goes above $70-72 a barrel, “there’s a high chance that an Indian airline could go bust", noted two airline officials. Livemint
Extra Crunch: Ever wondered which are the world's most punctual airports and airlines? Here's a list - not one but two.
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