NEW DELHI : IndiGo, India’s largest airline operated by InterGlobe Aviation Ltd, may shelve its plans to raise money from the market through a so-called Qualified Institutional Placement (QIP) and may depend on increased sales during the upcoming festive season for meeting its financial requirements.
Speaking to shareholders of the airline at the 17th annual general meeting on Friday, IndiGo’s chief executive Ronojoy Dutta said that a QIP process at the moment had only a 50% chance of being implemented as the company currently prefers to raise money through increased sales of tickets.
“The plan to raise money through QIP has a 50-50 chance and the preferred path is to increase sales revenue,” Dutta said.
