InterGlobe Enterprises, the parent firm of India’s biggest airline IndiGo, supported its interest in purchasing out Virgin Australia on Friday at a dramatic change of its stand just four days past.
“When it comes to Virgin Australia, InterGlobe Enterprises has signed an agreement to take part in the selling procedure and is bound by the confidentiality requirements of the arrangement,” the firm said in a statement.
On May 11, the firm had advised stock exchanges in regulatory filings in reaction to pressing reports: “We refuse the contents of those reports and want to explain that the business hasn’t devised any indicative proposal, nor does it have some interest in this issue.”
Virgin Australia, co-founded by British writer Richard Branson, had filed for bankruptcy in April following its petition to the Australian authorities for monetary aid that has been turned down.
The disruption brought on by Covid-19 had jeopardized its poor financial condition, such as a debt of 4.2 billion dollars.
IndiGo has a fleet of over 250 aircraft also provides over 1,500 daily flights to joins 63 national destinations and 24 international destinations.