IndiGo Airlines to Raise $534 Million Via Share Sale

Interglobe Aviation Ltd (INGL.NS), which runs India’s largest airline IndiGo, on Monday said 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.


Leave a Reply

Your email address will not be published. Required fields are marked *