IndiGo denies interest in Virgin Australia which was suggested by reports

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IndiGo denied that it was seeking to acquire Virgin Australia. The Australian Financial Review reported on Monday that it was putting together a proposal to bid for the bankrupt airline.
IndiGo has not formulated any such proposal and neither does it have any interest in this matter, the airline told in a release on Monday. As the publication had said – “India’s biggest airline is in the Virgin Australia data room and seeking to put together an indicative proposal for administrator Deloitte, citing sources “.

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Other reports suggested that the IndiGo cofounder Rahul Bhatia’s Interglobe Enterprises is eyeing the carrier. A spokesperson for Interglobe Enterprises declined to the comment.
The news came as a surprise as all carriers, IndiGo included, and travel companies in general, are grappling with the Covid-19 crisis, experts said.
Lockdown and measures aimed at curbing the spread in India and elsewhere have meant a carried on period of little to zero revenue that forcing them to cut costs by firing people or pruning salaries. An executive at a rival airline told that – “the development would be a bizarre distraction which would compromise their war chest in times of Covid”.

 

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