India’s top airline IndiGo to raise up to $534 miilion via share sale

Interglobe Aviation Ltd., which runs India’s largest airline IndiGo, said on Monday it will raise up to 40 billion rupees ($533.70 million) through the sale of shares to institutional investors, as it looks to manage cash during the Covid-19 pandemic which has hit its operations.

The virus outbreak caused Interglobe to report its biggest ever loss last month. The company had also announced separate plans to raise at least $268 million through the sale and leaseback of planes and other assets.