SpiceJet denies stake sale talks with Tigerair

Mumbai: SpiceJet has denied it is in talks with Singapore-based low cost airline Tigerair for a stake sale. The airline was reacting to a media report which said Tigerair along with private equity investors were were in discussions to pick up 40% in the Indian budget carrier.
"We are extremely concerned at the repeated references in the media as regards SpiceJet's plans to induct a strategic investor. Many of these are speculative and misleading. While we are not averse to the idea of partnering with a reputed name in aviation, it will be improper to comment prematurely on the possibilities of a deal fructifying. That said, we also wish to categorically state that the report this afternoon suggesting that we are in the process of offloading a substantial equity stake to Tiger Airways is totally misconceived . There is absolutely no truth in that story. " said  SL Narayanan, Group CFO, Sun Group
The airline which posted an annual loss of Rs 191 crore for last fiscal has been looking to raise funds for past several months. The airline was in talks with private equity investors and Gulf airlines for a stake sale but the talks did not lead to a deal.
Read News In Full 24/09/13 Aneesh Phadnis/Business Standard