June 29, 2017 / 8:50 AM / 24 days ago

IndiGo airlines shows interest in buying stake in state-owned Air India - TV

1 Min Read

FILE PHOTO: A Bharat Petroleum refuelling vehicle sits on the tarmac next to an Air India A320 aircraft as it refuels the plane with jet fuel in Gwalior, India, February 23, 2012.Vivek Prakash/File photo

NEW DELHI (Reuters) - IndiGo airlines, owned by InterGlobe Aviation (INGL.NS), 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.

India on Wednesday gave approval to privatize 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 percent at 0841 GMT in a strong Mumbai market .BSESN.

Reporting by Aditi Shah; Editing by Malini Menon

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