SpiceJet shares up on consolidation talks with GoAir

Mumbai: The shares of budget carrier SpiceJet were up nearly 10 per cent on the Bombay Stock Exchange Monday on reports that it was in talks with another low-cost airline GoAir for consolidating operations or even a possible merger.
Some 30 minutes before the closing bell, the SpiceJet scrip was trading at Rs.13.42, up 9.46 per cent over the previous close at Rs.12.26. GoAir, owned by the Wadia group, is an unlisted company.
SpiceJet, however, declined comment on the issue. "Our company policy is not to confirm or deny any such speculative claims," said a statement issued by the airline. GoAir also declined to react.
Jet Airways, controlled by Naresh Goyal, and Vijay Mallya's Kingfisher had also entered into a strategic alliance last year in what had set other airlines into discussing similar moves.
09/03/09 IANS/Economic Times

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Categories: SpiceJet Mar 2009