IndiGo to buy Virgin Australia? InterGlobe Enterprises to participate in sale process
Virgin Australia, the second-largest Australian carrier, announced bankruptcy on April 21 in wake of coronavirus pandemic; InterGlobe Enterprises has signed agreement to participate in sale process and is bound by confidentiality requirements, says company
- May 15, 2020,
- Updated May 15, 2020 1:27 PM IST
IndiGo's largest shareholder company and Rahul Bhatia-led InterGlobe Enterprises has announced it has signed an agreement to participate in the Virgin Australia sale. "As regards Virgin Australia, InterGlobe Enterprises has signed an agreement to participate in the sale process and is bound by the confidentiality requirements of that agreement. We are unable to say anything further at this stage," InterGlobe Enterprises said in a statement, reported ANI.
Notably, Virgin Australia, the second-largest Australian carrier, announced bankruptcy on April 21 in the wake of the coronavirus pandemic, thereby putting around 16,000 jobs at risk. Bhatia's InterGlobe owns 37.87 per cent in IndiGo, while Rakesh Gangwal, his family members and his family trust own 36.64 per cent in India's largest airline.
IndiGo's largest shareholder company and Rahul Bhatia-led InterGlobe Enterprises has announced it has signed an agreement to participate in the Virgin Australia sale. "As regards Virgin Australia, InterGlobe Enterprises has signed an agreement to participate in the sale process and is bound by the confidentiality requirements of that agreement. We are unable to say anything further at this stage," InterGlobe Enterprises said in a statement, reported ANI.
Notably, Virgin Australia, the second-largest Australian carrier, announced bankruptcy on April 21 in the wake of the coronavirus pandemic, thereby putting around 16,000 jobs at risk. Bhatia's InterGlobe owns 37.87 per cent in IndiGo, while Rakesh Gangwal, his family members and his family trust own 36.64 per cent in India's largest airline.