Money9: Will SpiceJet also be sold? Speculation intensified to sell large stake

If reports are to be believed, SpiceJet promoter Ajay Singh is in talks with Indian companies and Middle East companies for part sale. Ajay Singh holds 60 percent stake in SpiceJet.

Money9: Debt-burdened airline SpiceJet may sell stake to raise money. If reports are to be believed, SpiceJet promoter Ajay Singh is in talks with Indian companies and Middle East companies for part sale. Ajay Singh holds 60 percent stake in SpiceJet. SpiceJet was bought by Ajay Singh from the Maran brothers in 2015, even at that time the airline was on the verge of closure.

Jet Airways and Kingfisher airlines have also closed before Spice Jet due to funding problems. The closure of one airline after another raises many questions about the Indian aviation sector. Airline companies first start with loud noises, then get burdened with debt and finally wind up the business.

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If you want more information on this topic, download the Money9 app and watch today’s Money Central program. Anshuman Tiwari, editor of Money9, explained this topic in detail in the Money Central program.

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