A fund managed by JPMorgan Chase is reportedly in advanced talks to partner with Beleaguered budget carrier SpiceJet for a planned $200 million investment.
Meanwhile, Ajay Singh, who helped set up the low-cost airline in 2005, is leading a rescue plan for SpiceJet and has met with aviation ministry officials to discuss a revival plan. The company is looking to partner some US-based private equity investors to help fund the airline.
The airline has been registering loss for last five consecutive quarters. The Net loss for the quarter ended September 2014 was Rs 310.4 crore as compared to net loss of Rs 559.4 crore of corresponding quarter ended September 2013.
