Cash-strapped airline company SpiceJet’s shares jumped over 19 per cent on Friday after media reports suggested IndiGo co-founder Rakesh Gangwal might buy a ‘sizeable’ stake in the airline.
Following the reports in ET Now, SpiceJet’s shares ended Friday’s session 19.39 per cent higher at Rs 43.60 on the BSE. The airline’s market capitalisation (mcap) stood at Rs 2,982.85 crore. Queries sent to SpiceJet and Gangwal remained unanswered at the time of going to press.
SpiceJet, which has been facing a cash crunch for several past quarters, is also dealing with multiple court cases over money owed to its lessors — former promoter Kalanithi Maran and financial services firm Credit Suisse.
