NEW DELHI: Cash-strapped SpiceJet promoter Ajay Singh is in talks with multiple players \u2014 including a Middle Eastern carrier and a big Indian conglomerate \u2014 for stake sale to raise funds for the struggling-to-survive budget airline which urgently requires recapitalisation to keep flying.
\nThe airline management had been telling government officials concerned about its poor financial health about these talks and has now confirmed the same.
\nA 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.\u201d Singh has about 60% stake in the budget carrier.
\nAirlines sources claim Singh is \u201cin active discussion with a Middle Eastern carrier for a possible stake sale which has expressed interest to pick 24% stake and a board seat in SpiceJet. A big Indian business conglomerate has also approached Singh for a stake in the airline.\u201d Comments have been sought from big Middle eastern carriers and the big Indian conglomerate, and are awaited.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: Cash-strapped SpiceJet promoter Ajay Singh is in talks with multiple players \u2014 including a Middle Eastern carrier and a big Indian conglomerate \u2014 for stake sale to raise funds for the struggling-to-survive budget airline which urgently requires recapitalisation to keep flying. The airline management had been telling government officials concerned about its poor financial health about these talks and has now confirmed the same. 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.\u201d Singh has about 60% stake in […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220,130,137],"tags":[],"class_list":["post-511609","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-times-of-india","category-newspapers","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/511609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=511609"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/511609\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=511609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=511609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=511609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}