SpiceJet, controlled by billionaire Kalanithi Maran’s Sun Group, is in advanced stages of a capital infusion discussion with an external entity. The company has been seen as a potential target by foreign airlines after rules were eased in 2012 to allow foreign carriers to buy up to 49% in local airlines.
Last week, the company reported net loss widened for the three months to March, and posted a record full-year net loss of Rs 1,003 crore ($171.5 million).
SpiceJet is India’s most preferred airline who delivers the lowest air fares with the highest consumer value. The airline currently operates more than 350 daily flights to over 44 Indian cities and 9 international destinations.
