India’s Indigo distances itself from shareholder move for Virgin Australia

The parent of Indian carrier Indigo Airlines has distanced itself from a move by its biggest shareholder InterGlobe Enterprises expressing interest in Virgin Australia.

The parent of Indian carrier Indigo Airlines has distanced itself from a move by its biggest shareholder InterGlobe Enterprises expressing interest in Virgin Australia.

Responding to a stock market request for clarification of an Indian news report that Indigo’s parent had confirmed interest in Virgin Australia, InterGlobe Aviation reiterates an earlier statement that the company has ”not formulated any indicative proposal or expressed any interest in the sale of Virgin Australia”.

It goes on to add that it is not “party to or involved in” any proposal by InterGlobe Enterprises in relation to Virgin Australia.

InterGlobe Enterprises holds a 37.8% stake in Indigo Airlines parent InterGlobe Aviation. Reports in the Indian media, citing an InterGlobe Enterprises spokesperson, said it had signed an agreement to participate in the sale process and is bound by the confidentiality requirements of that agreement”.

In early May administrators for Virgin Australia, which entered voluntary administration on 21 April, said 20 parties are interested in recapitalising Virgin Australia. It said it was targeting receiving binding offers in June.