‘InterGlobe and I are here to stay’ – an emotional Rahul Bhatia dismisses IndiGo stake sale speculation | Business News

“Before I go, I want to convey a message to the investor community…InterGlobe recently sold 2 per cent of IndiGo shares, and this raised some concern and speculation. Firstly, the de minimis sell-down is meant to fund new businesses…and for general corporate purposes. It is actually no more complicated than this. Secondly, and more importantly, InterGlobe and I are here to stay,” said Bhatia, who was overcome by emotion while addressing the gathered.

Apart from the airline business, InterGlobe Enterprises has businesses in sectors like travel commerce, airline management, hospitality, and logistics.

“The Dream, which began…in the late 90s, to create an airline which our country will be proud of…and all I want to assure all of you is that kick and that itch is stronger than ever before. I want to assure the world that under the leadership of Pieter Elbers (IndiGo CEO) and his senior management, the employees at IndiGo won’t rest till we have made our humble contribution in ensuring that India has its rightful seat at the table of global airlines,” Bhatia said.

Before starting IndiGo—now the country’s largest and most profitable airline with over 60 per cent share of the domestic market by passengers flown—in 2006, Bhatia’s IGE was mainly in the airline services business and served as the general sales agent for the Indian market for various international carriers.

“Everyone thought this (launching an airline) was a recipe for death, and for good reason, because, as we all know, empirical evidence suggests that most airlines fail and only a handful of them succeed. However, we at InterGlobe were of the belief that if you can put together an airline that is able to secure pole position in terms of cost leadership, and I say that at the global level, then, over time, the airline should prevail. Equally importantly, such cost leadership would not come at the cost of quality,” Bhatia said.

In its 18 years of operations, IndiGo now dwarfs all other Indian carriers in size, scale, and profitability. It is also counted among the world’s largest airlines. With a fleet of over 350 aircraft—with close to a thousand more on order—the airline has already made it to the elite club of global carriers that have flown over 100 million passengers a year. IndiGo’s network currently spans 88 domestic destinations and 34 international ones.