INDIGO PARENT OUT OF VIRGIN AUSTRALIA RACE

NEW DELHI: IndiGo’s promoter Rahul Bhatia-controlled InterGlobe Enterprises Pvt. Ltd (IGE) hasn’t made it to the final list of bidders for Virgin Australia Holdings Ltd. Bain Capital, BGH Capital, US-based private equity fund Indigo Partners and Cyrus Capital Partners were the four potential bidders shortlisted by the administrators of Virgin Australia, the Australian Financial Review reported on Monday. Binding offers for the airline are now due on June 12. When contacted, a InterGlobe Enterprises spokesperson said: “Please see the media coverage in Australia. It’s self explanatory.” IGE, which controls the company operating India’s largest airline, had submitted expression of interest for bankrupt airline Virgin Australia Holdings Ltd in the first round of a sale process that concluded last week. Cashstrapped Virgin Australia had grounded its operations last month amid the covid-19 pandemic, and had hired Deloitte to oversee its administration.