In response to rumors that it was buying the majority of the troubled Go First, IndiGo stated that it was unable to respond.
According to reports, IndiGo will combine its operations with the financially troubled airline that last month requested the start of voluntary insolvency procedures and the imposition of an interim moratorium under the Insolvency and Bankruptcy Code (IBC).
The media has reported that IndiGo has expressed interest in Go First, and IndiGo is aware of these rumors. An IndiGo representative said to CNBC TV18 on Thursday that the airline “does not comment on market speculation and stays focused on its expansion strategy.
An earlier Gujarati newspaper had said that multiple conversations had already been held about the possible merger of IndiGo and Go First.
The study states that the merger and acquisition transaction may take up to five years. With a nearly 70% market share in India, IndiGo is currently the largest airline in terms of fleet size and market share.
Source- travel biz