An American billionaire Mr Wilbur L Ross, will invest $80 million (about Rs 345 crore) in the low cost airline SpiceJet and may pick up 13-14 per cent stake in SpiceJet
SpiceJet, the second largest domestic budget airline with 10% share, operates 94 flights daily with a 15 aircraft fleet. The high aviation turbine fuel price forced the budget carrier to cut down its flights to 94 from 117 earlier
Mr Ranjeet Nabha, Managing Director & CEO of WL Ross India said,
“SpiceJet is one of the most efficient airlines in India. We are delighted to contribute to its growth and development.”
Mr Bhulo Kansagra, member of SpiceJet board said that with this investment, we have no doubt that SpiceJet will fulfill its promise of emerging as India's leading airline and there is no change in business strategy
While the markets have fallen
drastically over the past two days, one stock that did well particularly in the
last twenty four hours is the stock of Spicejet Airlines. However little has to
do with its economic data and profits rather than the speculation over its
future.
While the markets have fallen
drastically over the past two days, one stock that did well particularly in the
last twenty four hours is the stock of Spicejet Airlines. However little has to
do with its economic data and profits rather than the speculation over its
future. 