SpiceJet in talks with private equity giants - report

"Various investors, including some PE funds, have approached SpiceJet, and we are in talks with them," a company spokesperson told Business Standard. "As of now, we have not finalized any deal, but if everything goes well, we may enter into a mutually beneficial deal."

As of March, promoters owned 43.5% of Spicejet, of which Kalanithi Maran's Kal Airways holds 35.4% while Anil Ambani-promoted Reliance Capital has 5.7%. Maran controls the remainder.

At present, foreign carriers are not allowed to invest in India's domestic airlines. The spokesperson added that some foreign carriers have expressed interests in picking up stakes in SpiceJet if the government relaxes its policy concerning this regard.

SpiceJet is expected to turn profitable this year, boosted by rising ticket prices and easing competition. The low-cost carrier currently has a fleet of 34 Boeing and seven Bombardier aircrafts. It will add a further three Boeings and four Bombardiers by the end of the current financial year.

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• Topics
• South Asia
• Bain Capital Asia
• KKR
• The Blackstone Group
• India