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SpiceJet in talks to sell stake
Sunday, 03 Aug, 2022
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Shares of troubled airline SpiceJet received a welcome boost on news it may sell a stake.
Shares surged nearly 13% higher on Wednesday.
SpiceJet is reportedly talking to a Middle Eastern airline as well as an Indian company.
When questioned Emirates said it is not planning any stake purchase in any airline while Etihad declined to comment, Reuters reports.
Qatar Airways and Saudia have not commented.
Any stake sale would come from the holding of founder Ajay Singh who owns about 60% of the airline.
The airline has been under financial difficulties for some time although it recently cleared all debts owed to airport operator, Airports Authority of India.
Ray Monty
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