SpiceJet deal: Worries for WL Ross?

US-based billionaire Wilbur Ross, who has shown interest in investing in SpiceJet, might be worried by SpiceJet having advance booked tickets for six-eight months.
Sources say that SpiceJet has sold tickets worth Rs 300 crore for the next six to eight months. Advance sale of tickets is a cause of worry for WL Ross.
Sources add that the SpiceJet top-level management restructuring is underway. Siddhant Sharma, the current CEO SpiceJet is likely to step down in August.
SpiceJet officials were unavailable for comment.
SpiceJet wants USD 100 million to tide over the current challenges. SpiceJet liabilities in the last three months have reached almost Rs 140 crore.
14/07/08 Swati Khandelwal/CNBC-TV18/Moneycontrol.com

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Categories: Foreign Jul 2008, SpiceJet Jul 2008