IndiGo eyes half a billion dollar share sale
India budget carrier IndiGo plans to raise up to $533 million through a sale of shares to institutional investors.
Parent InterGlobe Aviation Limited has approved the ‘issue of equity shares by way of a qualified institutions placement’ it said in a filing.
It will help shore up the business as the Covid-19 downturn continues to heavily impact revenues.
It suffered a first quarter loss of $381 million.
Revenue plunged 92% during the quarter to June 2020.
"The aviation industry is going through a crisis of survival and therefore, our cash balance remains our number one priority," CEO Ronojoy Dutta said.
IndiGo is also understood to be discussing terms with lessors about selling and leasing back 12 of its ATR 72-600 aircraft to raise more funds.
According to local media the lessors are Aergo Capital and DAE, and each jet could fetch $18 million to $20 million for the low-cost carrier.
Written by Ray Montgomery, Asia Pacific editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
France prepares for a massive strike across all transports on September 18
Turkish tourism stalls due to soaring prices for accommodation and food
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt