PE firms likely to invest in SpiceJet soon

Two foreign private equity firms have expressed interest in buying stake in Kalanidhi Maran-led no frills carrier SpiceJet and the airline is close to signing a term sheet with one of the two private equity companies, reports CNBC-TV18's Shereen Bhan.
The airline’s management told Bhan that they would prefer a deal with a foreign carrier provided foreign direct investment norms permit to do so. Neil Mills, CEO of the company, denied rumours that Emirates, Air Asia and British Airways are picking up stake in SpiceJet. “The managements of these three companies have said that the risk reward ratio currently does not merit an investment in a domestic Indian carrier,” he said. However, he agreed that foreign carriers have expressed interest in picking up a stake in SpiceJet if the regulations do change.
13/06/12 First Post

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Categories: Foreign Jun 2012, New Jun 2012, spicejet Jun 2012