IndiGo refuses to comment on reports of buying majority stake in Go First
Reacting to reports of buying mjority stake in crisis-hit Go First, IndiGo said it cannot comment on the rumours.
It has been reported that IndiGo will be merging its operations with the debt-ridden carrier, which had sought initiation of voluntary insolvency proceedings and imposition of an interim moratorium under the Insolvency and Bankruptcy Code (IBC) last month.
“IndiGo is aware about certain media reports stating that IndiGo has expressed an interest in Go First. IndiGo does not comment on market speculation and remains focussed on its growth strategy,” an IndiGo official told CNBC TV18 on Thursday.
Earlier, a Gujarati daily had reported that IndiGo is considering merging with Go First and several meetings have taken place in this regard.
According to the report, the merger and acquisition deal can take up to five years. IndiGo is currently the biggest airline in terms of market share and fleet size and controls almost 70 per cent of the Indian market.