SpiceJet suitors queue up meetings this week

Mumbai: The race for buying a strategic stake in Delhi-based budget carrier SpiceJet is hotting up with three full-service carriers Jet Airways, Kingfisher Airlines and Paramount Airways lining up crucial meetings with investment bankers and target company executives this week.
Paramount Airways had meetings with investment bankers and company executives on Saturday in south India. The airline also has the backing of a leading merchant banker, which is expected to partly fund its bid.
Sources close to the development said Jet Airways had a preliminary round of discussion with SpiceJet last week in London. Kingfisher Airlines has also evinced interest and has lined up meetings for this week.
Though executives of the airlines continued to deny any consolidation move, sources confirmed that various meetings were lined up by Jet Airways and Paramount Airways this week.
About 25 per cent of the shareholding in SpiceJet is locked-in investments that still cannot be sold. The airlines are eyeing shareholding scattered among a group of stake holders. A solution is supposed to emerge from the meetings scheduled for this week.
25/06/07 P R Sanjai/Business Standard

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Categories: Jet Airways Jun 2007, Kingfisher Jun 2007, Paramount Airways Jun 2007, SpiceJet Jun 2007