Friday, June 30, 2017

Air India stake sale: We are too small to bid, says SpiceJet's Ajay Singh

One prominent airline that will be missing from the race to buy a stake in Air India is SpiceJet.

Ruling out any plan to bid in the privatisation process of the national carrier, Ajay Singh, the Chairman and Managing Director of the low-cost airline, today said, "We are too small for that."

Singh was speaking to reporters on the sidelines of the launch of 'SpiceStyle', a retail outlet to sell lifestyle items like belts and sunglasses. SpiceStyle is an initiative by SpiceJet to increase the share of its ancillary revenues to 18 percent from 16 percent to take it to Rs 200 crores this financial year.

InterGlobe Aviation, the company behind India's largest no-frills airline IndiGo, Thursday officially expressed its intent to the government to bid for Air India.
30/06/17 Moneycontrol