Rahul Bhatia company Interglobe Enterprises eyes Virgin Australia

Interglobe Enterprises, the combined owner of India’s biggest airline IndiGo has shown interest in Virgin Australia, which is on the verge of collapsing.

Though, the talks are at a very initial stage.

Advertisement

The airline IndiGo is not involved in the deal and the process is being observed by a team of Interglobe’s team.
Virgin Australia entered bankruptcy administration two weeks back after lawmakers denied financial help in the times of the pandemic on fears it would amount to a bail out of foreign carriers that together own 90% of the airline’s stock. Among them are Etihad Airways, Singapore Airlines Ltd., Chinese conglomerate HNA Group and Richard Branson’s Virgin Group.

People aware of the plan said Rahul Bhatia’s Interglobe Enterprises has appointed “The entity has accessed data room and may take the process forward. However, no formal interest has been submitted,” the source said.

According to the sales pitch by Deloitte’s pitch to prospective owners of are its primary domestic routes, including the ‘Golden Triangle’ of Brisbane, Sydney and Melbourne, which it described as “historically one of the most profitable operating jurisdictions globally for air travel.”

IndiGo of which Interglobe Enterprises owns of which Interglobe Enterprises owns 37 percent stake, is one the richest wealthiest airline in this part of the world and according to an analysis by Bloomberg, has the highest chance of surviving the Covid-19 crisis which till now has pushed more than 10 airlines into bankruptcy.