In a bid to retire its debt, SpiceJet’s promoters are in talks with Singapore-based budget carrier Tigerair to sell around 24% stake in the company to Tigerair. SpiceJet and Tigerair have already held two rounds of talks for a possible equity deal as promoter Maran is looking for the FDI route for further funds infusion. Meanwhile, the discussions between the two on code-share are at the concluding stage.
Recently, the Chennai-based airline reported a 10% fall in net profit in the June quarter to Rs 50.55 crore on a total income of Rs 1,704.30 crore in the June quarter, which rose from Rs 1,466.69 crore a year ago.
