Published on 15/05/2020 4:01:05 PM | Source: IANS

InterGlobe Enterprises confirms interest in Virgin Australia

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel 

Download Telegram App before Joining the Channel

Conglomerate InterGlobe Enterprises on Friday said that it has signed an agreement to participate in the sale process of Virgin Australia.

The conglomerate has a presence in civil aviation, hospitality, travel commerce, airline management, aircraft maintenance engineering, advanced pilot training and real estate.

It is the parent company of airline major IndiGo and its largest shareholder.

"As regards Virgin Australia, InterGlobe Enterprises has signed an agreement to participate in the sale process and is bound by the confidentiality requirements of that agreement. We are unable to say anything further at this stage," InterGlobe Enterprises said in a statement.

At present, Virgin Australia is in the administration phase of the Bankruptcy Code.

The Virgin brand had entered into the Australian aviation market for the first time in the year 2000.

A new brand Virgin Australia was formed in May 2011.