June 29, 2017 / 8:50 AM / 7 months ago

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

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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