SpiceJet in discussion with Middle Eastern carrier for possible stake sale

Low cost carrier SpiceJet is said to be in active discussion with a Middle Eastern carrier for a possible stake sale.

SpiceJet promoter Ajay Singh holds a stake of around 60 per cent in the budget carrier. Sources said a big Middle Eastern airline has expressed interest to pick a 24 per cent stake and a board seat in SpiceJet. A big Indian business conglomerate has also approached Singh for a stake in the airline.

Reacting to the development, a SpiceJet Spokesperson said, “The company continues to be in discussions with various investors to secure sustainable financing and will make appropriate disclosures in accordance with applicable regulations.”