IndiGo to raise $268 mn via sale, leaseback of planes and other assets

Airlines globally are looking for ways boost their finances after the coronavirus crisis kept travellers at home

IndiGo, India's largest airline, said on Wednesday it planned to raise at least Rs 2,000 crore ($268 million) through the sale and leaseback of planes and other assets, after reporting its steepest quarterly loss in at least five years.

Chief Financial Officer Aditya Pande said the airline, owned by Interglobe Aviation Ltd, would consider raising even more than Rs 2,000 crore and the board would meet on Thursday to discuss this.

"Managing cash continues to remain our primary focus and we continue to work with all our stakeholders to raise liquidity," Pande told analysts on a call, adding it was in advanced