InterGlobe Enterprises (IGE), which runs low-cost airline IndiGo, confirmed on Friday that it has signed an agreement to participate in the sale process of the bankrupt Virgin Australia (VA). IGE is an Indian conglomerate which has interests in aviation and hospitality, among other segments.
In a statement confirming its participation, IGE said it is bound by the confidentiality requirements of the agreement and is unable to divulge anything further at this stage.
VA went into liquidation with a debt of over $5 billion last month. Sources indicated that InterGlobe Aviation, which manages IndiGo, is not part of the expression of interest (EoI) by IGE. Rahul Bhatia, the owner of IGE, is one of the co-promoters of IndiGo.
