Qatar Airways may buy stake in SpiceJet

Low-cost carrier (LCC) SpiceJet could be the second Indian carrier after Jet Airways to get foreign direct investment from an international airline. The LCC is reportedly in talks with some foreign carriers, with highly-placed sources saying Gulf carrier Qatar Airways being the most likely suitor, and the deal could materialize this quarter.

SpiceJet, which is engaged in a constant battle with Air India for the number three slot in terms of domestic market share, has a market capitalization of Rs 2,133 crore. "FDI in SpiceJet is likely to happen in this quarter itself. The airline is in talks with some foreign airlines and one more investor," said sources, while refusing to spell out the percentage of stake sale that is being discussed and the valuation.

The aviation ministry has not officially been informed of an impending stake sale in the LCC to a foreign airline, unlike the Jet-Etihad talks which have now been confirmed by Naresh Goyal's carrier to the BSE. "The information we have gathered is that SpiceJet may be selling stake to Qatar Airways but we are waiting for a word from the airline," said a senior official.


(Times Of India)