SpiceJet promoter Ajay Singh to sell stake
SpiceJet promoter Ajay Singh is reportedly in talks with potential Middle-East Asian airlines to sell his stake in the airline.
According to sources, promoter Ajay Singh holds 60 per cent stake in SpiceJet. A leading Middle East Asian airline has expressed interest in buying a 24 per cent stake in SpiceJet with the condition of one seat on board management. In addition, an Indian business group is also believed to have approached the promoter to buy a stake in the airline.
Just a day back, Spice Jet Company announced that it has cleared all dues of the Corporate Authority of India. SpiceJet’s ability to clear dues indicates an improvement in the airline’s cash flow in the recent past.