Indigo Co-founder may bid for Virgin Australia |
Rahul Bhatia, of India based InterGlobe Enterprises Ltd which is the biggest shareholder of Indigo airlines, is evaluating a proposal to bid for Richard Branson`s Virgin Australia. Rahul is evaluating data and is finalizing a strategy. He will be joining a score of suitors seeking to capitalize on Asia`s first airline casualty from the coronavirus pandemic. IndiGo denied an earlier report it plans to bid for Virgin Australia stating that the proposal is being prepared by InterGlobe Enterprises, and not by IndiGo. Virgin Australia has attracted at least 20 potential buyers as its administrator, Deloitte, races to sell the airline within two months of its collapse. Deloitte is seeking indicative bids by Friday and binding offers in June, targeting a deal by the end of that month. Virgin Australia collapsed owing 4.5 billion dollars to more than 10,000 creditors, overwhelmed by a near-halt in revenue as the coronavirus shut down travel.
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