InterGlobe Enterprise (IGE) has signed an agreement to participate in the sale process of Virgin Australia (VA), the Company confirmed on Friday. IGE is an Indian conglomerate which has interests in aviation (IndiGo), hospitality and other ventures.
In a statement confirming participation, IGE also said that it is bound by the confidentiality requirements of the agreement and is unable to say anything further at this stage. VA went into liquidation with debt of over $5 billion in April this year. Sources indicate that InterGlobe Aviation, which manages IndiGo, is not part of the Expression of Interest (EoI) by IGE. Rahul Bhatia, is one of the co-promoters of IndiGo and is also the owner of IGE.
