SpiceJet shareholder in talks with Middle East carrier

As India’s SpiceJet needs recapitalisation to keep flying, its shareholder, Ajay Singh, is exploring options with a Middle East carrier, as well as Indian companies.

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A SpiceJet spokesperson said: "The company continues to be in discussions with various investors to secure sustainable financing and will make appropriate disclosures in accordance with applicable regulations”

Reports claim Singh is “in active discussion with a Middle Eastern carrier for a possible stake sale which has expressed interest to pick 24% stake and a board seat in SpiceJet.”