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BUZZ-India's Indigo owner falls further; Air India stake plan unnerves
June 30, 2017 / 5:57 AM / 5 months ago

BUZZ-India's Indigo owner falls further; Air India stake plan unnerves

** Shares of IndiGo owner InterGlobe Aviation Ltd slides as much as 5.6 pct after falling 2.2 pct on Thursday

** India’s biggest airline expressed interest in buying a stake in Air India after the government gave “in-principle” approval to privatise the debt-laden state-owned carrier

** Analysts cite concern about such an investment, given Air India has 520 billion rupees ($8.04 billion) in debt as per govt data

** “The singular concern for any suitor of Air India is its over-leveraged balance sheet,” ICICI securities says in note

** Up to Thursday’s close, InterGlobe had risen 50.5 pct this year ($1 = 64.6675 Indian rupees)

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