Bravia Capital in talks with SpiceJet
Hong Kong-based Bravia Capital, which focuses on investment in the transportation and logistics sector, is in talks to invest in Indian budget airline SpiceJet.
"We are in talks with Bravia Capital and some others," Neil Mills, CEO of SpiceJet told Dow Jones, adding that the company has not finalized any investor yet.
SpiceJet will use the capital to purchase aircrafts. The company is planning to take delivery of six Boeing planes next year.
In June, KKR, The Blackstone Group and Bain Capital were also said to be in talks with the budget carrier.
News of Bravia's potential investment comes after the Indian government changed regulations to allow foreign airlines to hold stakes of up to 49% in the country's carriers. A SpiceJet said earlier that some foreign carriers had expressed an interest in investing should the government relax the policy.
Established in 2000, Bravia Capital specializes in the aviation industry and aircraft financing. It is known for its co-investments with China's HNA Group. Last November, the pair completed the acquisition of ACT Airlines, an air cargo operator based in Istanbul, Turkey.
More on South Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.