SpiceJet in ‘advanced’ talks with Emirates for stake sale

Mumbai/Delhi: Two days after the Jet-Etihad deal got FIPB approval, the buzz around SpiceJet looking for a partner has got louder.
The Kalanithi Maran-promoted low-cost carrier is reported to be in advanced stages of negotiations for a stake sale to a foreign airline. According to market sources, Dubai-based Emirates is the top suitor.

Burdened with a debt of Rs 1,429 crore, the SpiceJet management has apparently had talks with Gulf-based carriers Kuwait Airways and Qatar Airways.
However, industry sources indicate that the latest round of talks is with Emirates. “A deal with Emirates is a high possibility as the West Asian carrier is likely to lose out on market share in India after the Jet-Etihad deal. Emirates may be actively looking to partner with an Indian carrier,” said Sharan Lillaney, aviation analyst with Angel Broking.
In a recent interview to Business Line on the possibility of a deal with an Indian carrier, Emirates President Tim Clark had said, “I have never said no. Of course, we have looked at this.” ‘The Indian aviation market is a big cake and Etihad had got a piece, but at least three quarters of the cake is still there, uneaten,’ had he said.
Read News In Full 31/07/13 Nivedita Ganguly/Ashwini Phadnis/Business Line

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