INTERGLOBE AVIATION

INDIGO
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InterGlobe Aviation : IndiGo to raise up to $534 million via share sale

08/10/2020 | 07:54am

Interglobe Aviation Ltd, which runs India's largest airline IndiGo, said on Monday it will raise up to 40 billion rupees ($533.70 million) through the sale of shares to institutional investors, as it looks to manage cash during the COVID-19 pandemic which has hit its operations.

The virus outbreak caused Interglobe to report its biggest ever loss last month. The company had also announced separate plans to raise at least $268 million through the sale and leaseback of planes and other assets.

(Reporting by Chandini Monnappa in Bengaluru; Editing by Shounak Dasgupta)

© Reuters 2021
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