Mumbai: Qatar Airways is in talks with SpiceJet for the possible acquisition of 24 per cent stake in the Indian airline. Recently, the two airlines signed a non-disclosure agreement, but due diligence in this regard was yet to be carried out, said a source privy to the development.
In January, Qatar Airways had denied it was in talks with SpiceJet or any other Indian airline. Asked about the talks with SpiceJet earlier this week, a Qatar Airways spokesperson said the airline didn’t wish to comment on the issue.
SpiceJet denied it was in talks with the Gulf airline. “While we are not averse to the idea of partnering a reputed name in aviation, it will be improper to comment prematurely on the possibilities of a deal fructifying. That said, we wish to categorically state it is totally misconceived to say SpiceJet is in talks with Qatar Airways for a possible stake sale. A similar rumour was doing the rounds earlier, and we had denied it as soon as it hit the wires. Yet again, we have to simply reiterate there is absolutely no truth in this story,” said S L Narayanan, chief financial officer of the Sun Group, which owns SpiceJet.
According to sources, however, the talks were in preliminary stages and Qatar Airways might infuse $200 million in debt and equity in SpiceJet.
Read news in full 17/10/13 Aneesh Phadnis/Business Standard
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