Emirates put to rest speculation that it is in talks with Indian carrier SpiceJet for a stake in the airline. The Middle East’s largest airline termed the stories ‘inaccurate’ and said it was busy with its own expansion plans.
“In response to recent inaccurate stories in the media, Emirates can confirm it has no plans to acquire a stake in any airline in India or elsewhere,’’ an Emirates spokesperson said in response to questions from Khaleej Times.
The spokesperson added that the carrier was ‘‘focused on its own growth’’ and was investing substantially in its own fleet and network expansion plans.
SpiceJet declined comment on the report as it was premature at this stage. Stocks of the low-cost airline have suffered a steep fall of 42 per cent over six months and its promoters are also reported to be in talks with Qatar Airways and Kuwait Airways. The Hindu Businessline, quoting unnamed sources on Thursday, had reported that Emirates was in advanced stages of talks to pick up a stake in the Kalanidhi Maran-backed SpiceJet. Maran, from the southern state of Tamil Nadu, also runs the Sun Network, a media conglomerate. Last week, SpiceJet CEO Neil Mills put in his papers and rumours were fanned of a possible stake sale to a Middle East carrier.
Read News In Full 02/08/13 Allan Jacob/Khaleej Times
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