SpiceJet's Ajay Singh may sell over 10 pc stake in airline to raise funds
SpiceJet's Ajay Singh may sell over 10 pc stake in airline to raise funds
NEW DELHI: SpiceJet promoter and chairman Ajay Singh may offload more than 10 per cent stake in the struggling carrier as part of the latest funding round that is expected to close by the end of September, according to sources.
The budget carrier -- which is grappling with multiple woes, including financial challenges, legal battles and grounding of aircraft -- is looking to raise money that will help it meet various obligations.
One of the sources said that Singh could offload up to a 15 per cent stake in the airline if certain conditions are conducive.
