Thursday, September 27, 2012

NEWS| Spicejet spikes reports about stake sale

Asserting that it did not face any cash flow crisis, budget airlines Spicejet promoted by media baron Kalanithi Maran today said it was not holding talks with any foreign airlines on offering its stake.

"We have not had any formal talks with any airlines. Do not believe media reports. We are not desperate to raise money. As of now there is no cash flow crisis," Spicejet CEO Neil Mills said after attending the company's Annual General Meeting here.
Reports had said some foreign airlines were in talks with Spicejet for picking up possible stake in it.
The government has recently allowed foreign airlines to acquire up to 49 per cent stake in Indian air carriers.
Mills said the airline would, however, consider diluting its stake if there was a good deal. "We will do a deal that makes economic sense to shareholders and company," he said.


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