Qatar Airways, Etihad show interest in SpiceJet despite aviation turbulence

Posted By:
Subscribe to GoodReturns

Qatar Airways, Etihad show interest in SpiceJet
Spicejet: Quotes, News
BSE 143.25BSE Quote0.1 (0.07%)
SpiceJet is in discussions with two West Asian airlines, Etihad Airways and Qatar Airways, for a minority stake sale, the Business Standard newspaper has reported.

The move comes amidst expectations that the government would allow foreign airlines to invest directly in Indian carriers.

The discussions with the two airlines were, however, at a preliminary stage, the newspaper has reported.

India's aviation industry has been passing through difficult times with most of the airlines reporting huge losses and being saddled with debt. Companies are faced with high costs of aviation turbine fuel and taxed, which has resulted in mounting losses. Many of the airlines have delayed salaries and are already cash strapped.

As such the ability to rope in foreign partners is a welcome move for the aviation industry, which might see fresh cash infusion from foreign partners. The shares of SpiceJet were up marginally in trade today.

Read more about: spicejet, qatar airways, etihad
Story first published: Tuesday, June 26, 2012, 10:42 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'