Covid-19 impact: InterGlobe Aviation to raise Rs 4,000 cr through QIP

The airline posted a pre tax loss of Rs 2842.6 crore in Q1FY21 against a pre tax profit of Rs 1509.4 crore in the same quarter of the last year

indigo, airlines, aviation, flights, air craft

As of June-end it had free cash of around Rs 7,500 crore, a 2.2% decline over last June

Aneesh Phadnis Mumbai
InterGlobe Aviation, the owner of the country’s largest domestic airline, IndiGo, will raise around Rs 4,000 crore through a qualified institutional placement (QIP), the airline announced on Monday, after its board approved the plan.

The fundraising comes even as the Covid-19 pandemic and travel restrictions continue to batter the aviation sector, resulting in limited operations and weak revenue growth outlook.

First Published: Aug 10 2020 | 7:39 PM IST

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