Qatar Airways eyes SpiceJet stake | Business Standard

Qatar Airways eyes SpiceJet stake | Business Standard:

"Qatar Airways is in talks with SpiceJet for a possible acquisition of 24% stake in the Indian low cost airline. The two airlines recently signed a non-disclosure agreement  but a  due diligence is yet to take place, a source familar with the development said.

The talks are in a preliminary stage and focused around Qatar Airways acquiring 24% stake in SpiceJet.  The Gulf airline may infuse $200 million in totality in both debt and equity in SpiceJet, the source added.

In January, Qatar Airways had denied that it was in talks with SpiceJet or any other Indian airline. Asked specifically about talks with SpiceJet earlier this week,  Qatar Airways spokesperson said that the airline did not wish to comment on the issue.  SpiceJet, however, denied it was in talks with the Gulf airline. "It is totally misconceived to say that SpiceJet is in talks with Qatar Airways for a possible stake sale,'' Sun Group CFO SL Narayanan said."

'via Blog this'