IndiGo airline’s largest shareholder InterGlobe Enterprises on Friday said it has signed an agreement to participate in the sale of Virgin Australia, three weeks after the second-largest Australian carrier announced its collapse amid the coronavirus pandemic.
Billionaire Rahul Bhatia-owned InterGlobe holds a 37.8 per cent stake in IndiGo, while Rakesh Gangwal, his family members and the family trust own 36.64 per cent of India’s largest airline.
Virgin Australia collapsed on April 21, putting 16,000 jobs under threat.
The cash-strapped carrier announced that it had entered “voluntary administration” to recapitalise the business after being battered by the pandemic, which has crippled the global airline industry.
