Chennai: Negotiations to bail out SpiceJet took a new turn when former promoter Ajay Singh, who has a revival plan, met the the cash-strapped airline’s brass on Monday, according to sources. S L Narayanan, the Sun Group’s chief financial officer, did not respond to calls and text messages. Singh declined to comment on his meeting.
The talks are centered around promoter Kalanithi Maran and Kal Airways, also owned by him, infusing part of the Rs 1,100 crore needed to get SpiceJet back into shape. The Sun Group, which Maran heads, has made it clear it does not want to put in any more money into the airline.
Singh and two US-based private equity funds are interested in bailing out SpiceJet. The airline’s liabilities and dues are around Rs 2,000 crore.
07/01/15 Business Standard
The talks are centered around promoter Kalanithi Maran and Kal Airways, also owned by him, infusing part of the Rs 1,100 crore needed to get SpiceJet back into shape. The Sun Group, which Maran heads, has made it clear it does not want to put in any more money into the airline.
Singh and two US-based private equity funds are interested in bailing out SpiceJet. The airline’s liabilities and dues are around Rs 2,000 crore.
07/01/15 Business Standard
No comments:
Post a Comment