SpiceJet has ‘several offers’ for stake in the budget airline

New Delhi: SpiceJet Ltd. has received many proposals to buy into the company, and the Indian budget carrier is willing to evaluate an offer only if it’s strategic, its chairman and majority shareholder said.

“SpiceJet has enough cash,” Ajay Singh said in an interview, while attending an industry conference in Seoul. “We have to see if this serves SpiceJet’s long-term interests, and when we come to that determination, we’ll do something. These are typical in a situation when an airline is doing well and the market is as promising as India.”

SpiceJet, which almost shut down in 2014 after running out of cash, scripted a comeback since original co-founder Singh played the white knight. The shares jumped almost 64% this year, hovering near their all-time high, as the grounding of debt-laden Jet Airways India Ltd.