SpiceJet, India's second-biggest budget carrier by market share is in talks with Malaysia's Air-Asia to sell a stake, as mentioned in a media report. This development comes in the light of Union Cabinet allowing foreign carriers to buy up to 49 per cent in the domestic airline companies.
Recently, the Sun group-promoted airline company reported that it was planning to raise equity capital from promoter group by issuing convertible debentures or warrant to fund its expansion plan. This issuance will be convertible up to a maximum of 52.177 million equity shares. The company will use these funds for expansion and it will also explore options including equity contribution from existing shareholders and raising debt.
