New Delhi, July 19 -- It is a busy day at Interglobe Aviation Ltd., the company that runs India's largest airline IndiGo. For the board of directors led by chairperson M Damodaran and co-founder and director Rahul Bhatia, the issues to address go well beyond finalising the June quarter results, which is expected to be robust on account of firmer airfare caused by the capacity reduction in the industry.

For the leadership, analysing the risks arising from the ongoing bitter spat between Bhatia and his estranged partner Rakesh Gangwal and steering the airline through the turbulence is of top priority. If not settled quickly, the shareholder dispute could dent investor confidence, delay decision making on key issues and invite avoidable regul...