Maran may again raise stake in SpiceJet

SpiceJet promoter Kalanidhi Maran may take even more stake in the company, if flights between tier-2 cities such as Bhopal, Indore, Lucknow and Jaipur turn viable for the low-cost carrier.
The company's shareholders recently okayed a move to raise Maran's stake from 38 per cent to 43 per cent.
"If our endeavours like Bhopal-Hyderabad remain successful, he may pick up more," said Samyukt Shridharan, chief commercial officer.
"We are planning to invest $150 million (Rs 740 crore) within a year on our new short routes," he told Business Standard in Bhopal on Tuesday.
He said so after launching the Bhopal-Hyderabad service, available at a fare of Rs 1,499 (excluding meals).
The 2005-founded company, headquartered in Gurgaon, has already received delivery of five Q4100 jets. Another 10 would be added soon on a lease basis, with a ownership right option with the supplier company, Bombardier.
05/10/11 Business Standard/Rediff.com

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Categories: spicejet Oct 2011