Signalling an imminent change in SpiceJet's ownership, potential investors including co-founder Ajay Singh and US-based JPMorgan have begun discussions with markets regulator Sebi over their investment plan for the cash-strapped airline.
Indian budget airline SpiceJet has agreed to buy around 40 Boeing 737 passenger jets worth over $4 billion at list prices as it seeks to modernize its fleet and climb out of the red, industry sources said on Tuesday.
Idea Cellular's bid to acquire a controlling stake in the B K Modi-promoted Spice Communications has hit a pricing roadblock. Investment banking sources said that B K Modi had asked for Rs 70 a share for his 40.8 per cent stake in Spice, valuing the company at Rs 4,829.47 crore, but Idea is reluctant to pay that much."Any price valuing Spice Communications beyond Rs 4,200 crore would be expensive for Idea Cellular," said an analyst with a domestic brokerage.
As full-service carriers hiked fares and surcharges due to skyrocketing jet fuel prices, the no-frill ones have launched special offers with SpiceJet on Thursday announcing the sale of three lakh tickets for Rs 3 each plus taxes and surcharge from Friday.
Jet Air shares rally on expectations that continuing troubles at rival SpiceJet will help it gain market share.
Her awww-worthy wardrobe is an absolute treasure trove.
Former Spice Girls member Geri Halliwell has launched her own beachwear range. Take a look!
England have retained old warhorse James Anderson who is seven shy of reaching the landmark 700 wickets and become the first pacer to achieve the feat.
There could be rejig at top level at SpiceJet.
Meet Sudhakar Prabhu, who has become an overnight Internet sensation.
The airline dropped fares to gain customer load, but failed to cover the cost of its flights
ITC, the Kolkata-based tobacco-to-hotels major, is extending its flagship foods brand, Aashirwaad, to spices and rice. The move will reduce its reliance on the cigarettes business.
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.
A Mumbai girl, who has grown up eating dabeli all her life, the dish is her absolute favourite.
Falling jet fuel prices, stable rupee signal lower losses
US-based co-working operator WeWork, Lowe's India, SpiceJet and startups like CureFit stepped in to offer employment to the distressed workers at Jet.
The company held about $12 million worth of FCCBs in SpiceJet. Bank of America-Merill Lynch brokered the block deal for the company, said sources.
The Chennai office of Registrar of Companies sent the notice to the second-largest no-frills private carrier last month.
This would be the third fund infusion in the airline by Maran since September 2011.
The airline's board decides to issue warrants to promoters on a preferential basis
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
Three months after Sanjay Aggarwal resigned as chief executive officer (CEO) of SpiceJet, the airline announced the appointment of Neil Raymond Mills as the CEO.
A look at the Kalanithi Maran-controlled airline's place in the domestic aviation sector
There may be several varieties of kheema pav, but this is the closest any vegetarian version has come to the classic dish.
No-frills carrier SpiceJet is in active discussions with Singapore-based budget carrier Tigerair for a possible stake sale even as they are set to sign a code share agreement soon.
In a fresh trouble for the budget carrier SpiceJet, aircraft lessors have approached the aviation regulator DGCA, seeking its permission to repossess 11 Boeing planes of the airline, even as its revival plan is under review of the Civil Aviation Ministry.
Baga and Gokarna make the list of the world's top 100 beaches.
Invest in the person you are dating or romancing and enjoy the time you two spend together, advises Sybil Shiddell.
Low cost airline SpiceJet, will introduce international flights to Bangladesh, Sri Lanka and Nepal from Kolkata by June.
Idea Cellular, the fifth largest mobile operator in the country with around 15 million subscribers, is believed to be on the verge of clinching a cash-cum-equity buyout of Spice Telecom that values the latter at around $1 billion.
In an effort to increase the exports of spices from India, the Spices Board has set a target turnover of $880 million this financial year against $800 million last year.
A green banana fish curry for the vegetarian in you.
Telekom Malaysia which already holds over 49 per cent equity stake (which it bought for over Rs 730 crore in Spice has been looking at expanding its base in India beyond just the two circles.
The revised policy, which has come into effect since last week, means passengers who are looking to skip the long queues at airports will have to shell out a fee for it. For IndiGo, the lowest seat fees is Rs 100 while for SpiceJet it is Rs 99.
The protesting farmers' main demand to legalise the minimum support price (MSP) regime has divided opinion. One school of thought says it would lead to crop diversification and help India keep under check its burgeoning import bill on edible oils and pulses, while another says it would incentivise farmers to produce low-quality crops. Contrary to popular perception, India has a trade surplus in agriculture and allied activities, which stood at $18.65 billion during 2022-23 (FY23) against $15.92 billion in the previous year. However, the surplus was mainly on account of rice, wheat, sugar, spices, and buffalo meat.
The chess champ loves to dress her nails and hair.
The budget carrier was on the verge of collapsing in Dec.
First investment by the group in aviation; deal size may be less than Rs 100 crore.
SpiceJet COO says ATF price cut is need of the hour.
Soya chunks and peas, in a spicy gravy, with rice or rotis is wonderful midday meal.
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