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While IGE said it “does not comment on speculation as a rule,” it is known that it is reviewing the tender for Virgin Australia and has appointed a consultant.
No bids have been submitted yet. The first round of bids must be submitted by May 15. So far, 20 potential bidders have shown interest.
Virgin Australia’s stakeholders include Abu Dhabibased Etihad, Singapore Airlines and Richard Branson Virgin group. The VA deal is being reviewed by IGE and not by the group company Indigo.
There is no interest in VA, he did not make any proposal, says IndiGo
VA has appointed a team of Deloitte managers to “recapitalize the business and ensure it emerges in a stronger financial position on the other side of the Covid-19 crisis” after Australia rejected its request for a $ 888 million loan.
Others interested in VA include Australian physical education firm BGH Capital, global investment giants Bain Capital, Brookfield and Oaktree Capital Management, Macquarie Group and three Australian states: Queensland, NSW and Victory. VA’s total obligations are close to $ 7 billion. Morgan Stanley and Houlihan Lokey are working out the deal for VA administrators.
IndiGo, India’s only cash surplus airline is officially out of VA’s picture IndiGo CEO Ronojoy Dutta said in a statement: “We are referring to certain reports indicating that Indi-Go has expressed interest in Virgin Australia. We deny the content of these reports and we would like to clarify that IndiGo has not made any indicative proposal, nor has any interest in this matter. ”
The dynamics of the aviation industry will change significantly in a post-pandemic world, with several airlines struggling to survive and some seeking infusion of funds from new investors to revive. Among Indian operators, IndiGo is the only one with its own cash reserves. Other airlines like GoAir and Vistara They are backed by wealthy promoters, while the Air India divestment process is underway. IndiGo has planned to spread its wings abroad for a long time.
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