Indian budget carrier SpiceJet Ltd., which has surged more than 280 percent this year, said it’s received interest from Gulf airlines looking to acquire a stake.
“Some of the Gulf airlines have expressed an interest in SpiceJet as we have come back into the market, but this is not the right time to be diluting the equity,” Chairman Ajay Singh said in Dubai Sunday, without naming the companies. “There is some dialogue which is ongoing and we continue to explore other types of relationships we could have,” he said, adding now isn’t the right time to sell a stake as the shares remain undervalued.
Gulf carriers including Abu Dhabi-based Etihad Airways PJSC and Qatar Airways Ltd. have acquired stakes in airlines to quickly expand their networks. Etihad has stakes in eight companies, while Qatar Airways Ltd. said earlier this month that it was interested in boosting its 10 percent holding in British Airways parent International Consolidated Airlines Group SA and taking up to 49 percent of Indian budget carrier IndiGo.
29/11/15 Matthew Martin/Bloomberg.com
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“Some of the Gulf airlines have expressed an interest in SpiceJet as we have come back into the market, but this is not the right time to be diluting the equity,” Chairman Ajay Singh said in Dubai Sunday, without naming the companies. “There is some dialogue which is ongoing and we continue to explore other types of relationships we could have,” he said, adding now isn’t the right time to sell a stake as the shares remain undervalued.
Gulf carriers including Abu Dhabi-based Etihad Airways PJSC and Qatar Airways Ltd. have acquired stakes in airlines to quickly expand their networks. Etihad has stakes in eight companies, while Qatar Airways Ltd. said earlier this month that it was interested in boosting its 10 percent holding in British Airways parent International Consolidated Airlines Group SA and taking up to 49 percent of Indian budget carrier IndiGo.
29/11/15 Matthew Martin/Bloomberg.com
