Promoter Ajay Singh presently holds around 60 percent stake in the airline. A couple of Indian conglomerates are also in the fray to buy a stake in the airline. SpiceJet said the company continues to be in talks with various investors regarding sustainable financing.
Media house reports indicate that SpiceJet promoter Ajay Singh could be in talks with a middle-eastern carrier for a possible stake sale. The airline is also in discussions with a large Indian conglomerate, to offload a partial stake in the airline.
Just a day ago, the airline confirmed that it has cleared all principal dues with the Airport Authority of India (AAI), and had reverted to advance payment mechanism for daily operations.
The airline has been under the spotlight after several incidents of technical snags on its flights. One of its Dubai-based lessors asked the regulator to deregister three of SpiceJet’s planes.
Last month, according to media reports the airline lost market share because it didn’t deploy enough seats. Its slot utilization remains low, as experts said that either SpiceJet could not have its assets ready to be deployed, or does not have the appetite to stand losses.
Promoter Ajay Singh presently holds around 60 percent stake in the airline. A couple of Indian conglomerates are also in the fray to buy a stake in the airline. SpiceJet said the company continues to be in talks with various investors regarding sustainable financing.
The airline is yet to release its Q4FY22 results, as the numbers are being re-authenticated due to a ransomware attack that impacted its IT systems.
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