Spicejet Clarifies Reports On Stake Sale
Spicejet Ltd has Clarified that the company has received clarification from its Promoters that there is no truth in the aforesaid news report.
Earlier there was an news item appeared in the newspaper titled SpiceJet promoter Maran to sell majority stake, first offer to original owner.
Report stated that SpiceJet promoters were in talks with former SpiceJet director and co founder Ajay Singh and a clutch of private equity players for buying out Maran’s 53.48% stake in the Airline, says media reports.
Maran had bought majority stake in SpiceJet from its promoter Bhupendra (Bhulo) Kansagra and distressed assets buyout specialist Wilbur L. Ross.
The Airline reportedly said it has completed reconfiguring a majority of its 53 Aircraft fleet giving extra leg room to passengers in front five rows.
SpiceJet promoters are in discussions with former SpiceJet director and co-founder Ajay Singh and a clutch of private equity players for buying out Maran’s 53.48% stake in the Airline, says media reports.
Currently we are in our silent period and hence would not be able to comment, SpiceJet reported. The total debt as on March 2014 was Rs.2crore, says report.
Maran had bought majority stake in SpiceJet from its promoter Bhupendra Kansagra and distressed assets buyout specialist Wilbur L. Ross in 2010.
Nevertheless, overall growth for the first six months of 2014 stands at 4.1% compared to the same period in 2013. That is much stronger than the weak 1.4% increasereported for the full-year 2013 over 2012 levels. The strengthened growth has been underpinned by improving global trade and stronger business activity over the past year.
At the half way point of the year, it is clear that overall cargo demand is much stronger than in 2013. Carriers in Asia Pacific and the Middle East have been the biggest beneficiaries of the improved market conditions. Europe is doing reasonably well, albeit still in recovery mode. The weak spot is the Americas,said Tony Tyler, IATA’s Director General and CEO.
International Air Transport Association (IATA) ,
SpiceJet promoter Maran to sell majority stake,
Tony Tyler, IATA’s Director General and CEO,
Mohini Porwal [ B Sc] Trainee News Editor
Trainee News Editor