Low-cost carrier SpiceJet's share price went up 9.5 per cent at the Bombay Stock Exchange today in an otherwise flat market fuelled by speculation that the airline was in merger talks with another Delhi-based low-cost carrier, IndiGo.
Troubles for SpiceJet seem to have piled up and it remains financially strapped.
In aviation parlance, an 'interline arrangement' is a deal under which the same ticket covers different legs of the journey flown by different airlines.
Qatar Airways might infuse $200 million in debt and equity in SpiceJet.
The airlines' CEO expects it have 50 Boeing-737s and 30 Bomardier aircraft by 2016
Maran had clinched a deal in June to acquire a 37.7 per cent stake in the airline for about Rs 750 crore (Rs 7.5 billion) from American investor Wilbur Ross, his investment companies and the Kansagara family-promoted Royal Holding Services Ltd.
Sun Network chairman Kalanithi Maran and his company, Kal Airways Pvt Ltd, which was incorporated on May 6, are the acquirers of the airline.
Sources privy to the development said Maran was being asked to take care of a part of the liabilities.
Minority investors of SpiceJet might be feeling cold-shouldered.
Falling jet fuel prices, stable rupee signal lower losses
It offers fares as low as Rs 1,499 for a one-way journey.
Domestic low-cost carrier SpiceJet on Friday said it may start flights to overseas destinations with the relaxation of civil aviation policy for new carriers to fly abroad.
The sources indicated that the AAI, which had given time to SpiceJet till Monday to clear its dues, would not press the deadline and give the airline more time to pay up.
The Forbes magazine had adjudged Maran as the 38th richest man in India, with a net worth of $2.3 billion (as of September).
SpiceJet will have to refund fare to passengers due to a flight delay.
Delhi-based budget carrier SpiceJet will acquire 10 new Boeing 737 airplanes as a part of its fleet expansion programme.
CCI's ruling came on a complaint filed by Express Industry Council of India.
SpiceJet is in talks with aircraft makers for a jet deal.
To understand Modi, listen to what he does not say -- vide NRC, suggests Prem Panicker.
It is imperative that the government first decides who should assume ownership of running Air India.
The market is abuzz about how the fabled investor got it wrong.
Delhi-based low-cost carrier SpiceJet is looking at restructuring its core leadership team as part of US investor Wilbur Ross's strategy of turning around the company.
Ajay Singh would infuse Rs 1,500 cr in SpiceJet.
Carrying on with its low-fare offers, SpiceJet has now started giving limited-period discounted tickets to flyers from Andhra Pradesh, Tamil Nadu and West Bengal.
Low cost airline SpiceJet, on Saturday said it has placed orders for 10 more Boeing 737-800 aircraft with Boeing, and the first one would join the existing fleet of five aircraft, by February 2006.
Scindia claimed Tharoor is "lost in his esoteric world of thesaurus", and for him "data mining of selective press articles from the internet qualifies as "research".
In a move that signals a fresh round of consolidation in the recession-hit aviation industry, budget carrier SpiceJet may pick 7.5 per cent stake in another low-cost airline IndiGo.
With low-visibility conditions significantly disrupting flight operations at the Delhi airport, Civil Aviation Minister Jyotiraditya Scindia on Monday said all stakeholders are working round-the-clock to minimise fog-related impact as well as passenger inconvenience, and asserted that unruly passenger behaviour is unacceptable.
SpiceJet strts trimming workforce.
Low-cost carrier SpiceJet said on Monday it had signed a $1.1 billion deal for sale and lease back agreement, covering 16 brand-new Boeing aircraft.
Speaking to Business Standard, Jet Executive Director Saroj Datta said: "SpiceJet and JetLite are an absolute fit in so far as their business models are concerned."
The airline has already commenced the sale of tickets for the new destination, which will be the ninth international sector to be served by carrier, SpiceJet said.
The airline has promised refunds within 10 days, but there is a rush
Low-cost carrier SpiceJet has raised about Rs 100 crore (Rs 1 billion) by allotting 4.29 crore shares to promoter Kalanithi Maran at a price of Rs 23.18 per share.
SpiceJet is having tough times due to a huge financial crunch.
Stocks of SpiceJet on Friday surged nearly 10 per cent after the company returned to original promoter Ajay Singh for its revival in a multi-layered deal worth up to Rs 1,500 crore (Rs 15 billion).
Budget air-carrier, SpiceJet, expects to break-even this fiscal, a top company official said. The break-even could come on the back of stabilising fuel prices and an increasing demand for low-fare travel, he said. The air-carrier expects oil prices to stablise in the range of $65-70.
Earlier, PE firms such as Goldman Sachs and Indigo Partners had evinced interest in the Indian aviation market.
Amid reports of a possible stake sale, low-cost airline SpiceJet on Friday said it is exploring all options to mop up funds to overcome the cash crunch.
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