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Air India privatisation: IndiGo wants to buy stake in debt-laden carrier

Reuters | New Delhi Jun 29, 2017 02:47 PM IST
Air-India-privatisation-IndiGo-wants-to-buy-stake-in-debt-laden-carrier
Air India, laden by debt, is up for sale. Representative image

IndiGo airlines, owned by InterGlobe Aviation , has expressed an unsolicited interest in buying a stake in state-owned carrier Air India, television channel CNBC-TV18 reported on Thursday quoting the aviation ministry.

The Cabinet on Wednesday gave approval to privatise debt-laden Air India, the first step of a process that could see the government offload an airline struggling to turn a profit in the face of growing competition from low-cost rivals.
 

Shares in InterGlobe Aviation were trading lower by 3.3 per cent at 0841 GMT in a strong Mumbai market.

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