SpiceJet scouts for foreign stake buyer

Mumabi: Sun Group-promoted SpiceJet is keen on offloading a part of its stake to an overseas investor as soon as the government gives the green signal to the FDI policy, allowing foreign airlines to pick up to 49 per cent stake in domestic airlines. The SpiceJet board has already evolved a consensus on selling a part of the company to foreign investors.
“The airline is open to selling its stake — it could be to financial investors or foreign airlines,” Neil Mills, CEO, SpiceJet, said. As per reports by The Financial Express, the airline was in talks with Dubai-based Emirates for a majority stake sale. The carrier officially refused to comment on the news then. Even now, Mills did not divulge the name of the airline or the foreign investors that SpiceJet was in talks with.
02/06/12 TravelBizMonitor

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