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SpiceJet’s promoters to offload 24% stake to Tigerair

07 Aug 2013 Evaluate

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.

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Company Name CMP
Interglobe Aviation 4796.00
SpiceJet 8.61
TAAL Tech 964.35
Taneja Aerospace 328.95
Global Vectra Helico 121.70
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