Budget carrier SpiceJet is reportedly in preliminary talks with Qatar Airways to offload 24% stake. Qatar Airways might infuse $200 million in debt and equity in SpiceJet for the stake buyout. Recently, the two airlines signed a non-disclosure agreement, but due diligence in this regard was yet to be carried out.
In September, SpiceJet’s auditors raised concerns about its ability to stay afloat as its operating losses have completely eroded its net worth. India's carriers have been bleeding over the last few years because of a rise in fuel costs, higher interest rates and a slowdown in domestic air travel demand.
