Indian billionaire behind IndiGo weighs Virgin Australia bid

The biggest shareholder of Indian budget carrier IndiGo is considering a bid for Virgin Australia Holdings, joining a score of suitors seeking to capitalize on Asia’s first airline casualty from the coronavirus pandemic. Rahul Bhatia, who owns the Indigo holding through InterGlobe Enterprises, is evaluating data of the Australian airline and is finalizing a strategy, a person with direct knowledge of the matter said. No decision has been made, the person said. IndiGo denied an earlier report it plans to bid for Virgin Australia. The proposal is being prepared by InterGlobe Enterprises, and not by IndiGo, the person said. Virgin Australia has attracted at least 20 potential buyers as its administrator, Deloitte, races to sell the airline within two months of its collapse. Deloitte is seeking indicative bids by Friday and binding offers in June, targeting a deal by the end of that month.<br/>