IndiGo Shows Interest In Buying Stake In Air India: Civil Aviation Ministry

A day after the Union Cabinet gave in-principle approval for the disinvestment of Air India, India’s flag carrier, sources in the Ministry of Civil Aviation (MoCA) have revealed that InterGlobe Aviation, flying under the brand name of IndiGo had shown interest in acquiring stake in the loss-making public-sector undertaking, currently Rs 52,000 crore ($8 billion) in debt.

MoCA sources have said that IndiGo is the first company to show interest in acquiring stake as well as give an unsolicited expression of interest.

Government think tank NITI Aayog had proposed the sale of the loss-making airline and diversion of allocated funds towards health and education, in May this year. The Aayog’s report provides a detailed road map for strategic disinvestment of the airline.