Investors line-up for SpiceJet stake

New Delhi: Siddhantha Sharma has a new role as executive chairman of the SpiceJet. His responsibility now goes beyond just running the airline.
He has to find the best match since investors are now willing to put in money. The airline needs about $60- 80 million to fund its aircraft acquisition from 2009 onwards.
In the race to pump in about $30-40 million are Ryan air promoter family owned Irelandia, Caledonia Investment and Temasek. Spicejet meanwhile has also become the first low cost airline to crawl back into profitability.
The airline has managed a profit of Rs 18.5 crore compared to Rs 3.6 crore in the same period last year. However the airline has earned about Rs 12.7 crore through sale-lease back of its aircraft.
30/07/07 Arijit Banerjee/NDTV.com

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Categories: SpiceJet Jul 2007