The UK-based promoter-director Bhulo (Bhupendra) Kansagra of Delhi-based low-cost carrier SpiceJet is willing to divest the family stake in the airline if the valuations are right. The Kansagra family owns 12.91 per cent in the airline, which is publicly listed, and has a 10 per cent share in the Indian market, and a market capitalisation of $250 million.
For Jet's revival, Mr Jalan should be on the scene long enough for everyone to get to know him, appreciate his skills, and not vanish into thin air within a matter of months or even weeks, observes Anjuli Bhargava.
Low-cost carrier SpiceJet Airlines, promoted by a group of investors led by the Kansagra family and Delhi-based Ajay Singh, is working on a plan to start international operations next year, making it the third private Indian carrier after Jet Airways and Kingfisher to fly overseas.
Given that debt is a major problem for most airlines, investors with a medium-term horizon should look at them.
SpiceJet to add 7 planes; another Rs 500 cr infusion in April.
SpiceJet Ltd., an Indian budget airline, will likely to sell a foreign currency convertible bond worth $90 million by early September to raise money for more plane purchases, a company executive said Wednesday.
Spicejet has sought extention from the Airports Authority of India over payment schedule.
There could be rejig at top level at SpiceJet.
Some years ago, Rakesh Gangwal reportedly said his relationship with Rahul Bhatia evolved in an amazing friendship, which he termed 'blind trust'. The question is whether that is under scrutiny now.
A consortium led by Ajay Singh is initially expected to invest Rs 1,200 cr, largely to cover liabilities.
Budget carrier SpiceJet has accepted the resignation of its chief Executive Niel Raymond Mills, 18 months before his service contract was to expire.
Analysts say the Sun Network's fundamentals may be sound but the troubles faced by Maran have caused a lot of volatility.
There are rumours that Ajay Singh who previously headed SpiceJet may get an investor to bail out the airline of dire consequences.
The task I had undertaken was by no stretch of imagination an easy one, says Ajay Singh.
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