NEW DELHI: In a relief to SpiceJet, its biggest lessor Carlyle Aviation Partner has decided to convert $100-million dues to the airline into equity shares and compulsorily convertible debentures (CCDs). It will pick up over 7.5% stake in SpiceJet.
Additionally, part of the dues will be converted into CCDs of SpiceXpress at an anticipated future valuation of $1.5 billion (Rs 12,422 crore), the airline said on Monday, adding it will raise fresh capital of Rs 2,500 crore.
The airline will transfer its cargo business undertaking on a slump sale basis to its subsidiary SpiceXpress and Logistics (SXPL), the company said in a BSE filing.
