IndiGo in a round of debt buying Australia’s Virgin Australia Airlines

Interglobe enterprise of Indigo founder Rahul Bhatia is showing interest in the purchase of Virgin Australia under debt burden.

According to a report in the Australian Magazine Financial Review on Monday, IndiGo, India’s largest airline company, has proposed to Virgin Australia in this regard.

According to a Bloomberg report, a source close to the development said that Rahul Bhatia, who holds a stake in Indigo through Interglobe Enterprise, is evaluating Virgin Australia, founded by Richard Branson, and finalizing the strategy.

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Earlier, Indigo denied such a report that it was planning to bid for Virgin Australia. According to Bloomberg, the source also revealed that Virgin was preparing a proposal for Australia’s bid for Interglobe Enterprise, not Indigo.

Australian airline Virgin Australia owes nearly $ 4.5 billion to more than 10,000 lenders. The airline, which is facing financial crisis, stopped its operations last month due to Corona virus outbreak.

Deloitte has been appointed as administrator by Virgin Australia, Australia’s second-largest airline under debt after the government refused a bailout package.