Private Equity Other Private Equity/Strategic Investments
SpiceJet in talks for stake sale
Source Business Line (opens in a new tab)Economic Times, (opens in a new tab)
SpiceJet promoter Ajay Singh is exploring a partial stake sale in the cash-strapped carrier and is in talks with a Middle Eastern carrier and a big Indian conglomerate as the company needs recapitalisation urgently to keep flying.
The Middle Eastern carrier has expressed interest to pick 24% stake and a board seat in SpiceJet. A big Indian business conglomerate has also approached Singh for a stake in the airline. Singh holds around 60% stake in the budget carrier.
Founded in 2004-05, SpiceJet operates flights to 51 domestic destinations.