Acquisition can be possible in about ten months: Sanjay Aggarwal, CEO, SpiceJet

Mumbai: According to a PTI report, SpiceJet recorded a passenger growth of 12 per cent in the first quarter of 2009 when other airlines were struggling to beat the downturn. When asked whether the airline is on a look out for suitable acquisition opportunity, Sanjay Aggarwal, CEO, SpiceJet said that an acquisition can be possible in about ten months. When further questioned about the finances and war for such an acquisition, he said that the airline was a debt free company and not short on funds. On the kind of carrier SpiceJet wants depends on the synergy and price the business will bring.
He further added that the acquisition can take place after nine-ten months, possibly by the time the airline completes its fifth anniversary in May next year. Until such time, the airline will concentrate on transforming itself to an ‘airline of choice’ for the passengers. When asked to which airline would he like SpiceJet to be compared with and the time frame for the transformation, Aggarwal said, “I think Southwest Airlines (America) is the best in the business. I would like SpiceJet to be in that league. Hopefully by our fifth anniversary that is May 2010.”
25/05/09 TravelBizMonitor

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Categories: SpiceJet May 2009