SpiceJet exploring possibility of partial stake sale
SpiceJet Ltd promoter Ajay Singh is exploring the possibility of a partial stake sale, sources told news agency ANI, adding that the company continues to be in discussions with various investors to secure sustainable financing and will make appropriate disclosures in accordance with applicable regulations. Shares of SpiceJet jumped more than 10% on the BSE to ₹48 apiece in Wednesday's early deals after the reports of the possibility of stake sale. The airline stock is down over 28% in 2022 (YTD) so far, whereas in a year's period the counter has declined about 35%. The low-cost carrier on Tuesday said it has entered into a full and final settlement with the Airports Authority of India (AAI) and has cleared all outstanding principal dues of the airport operator. With this, SpiceJet will no longer remain on 'cash and carry' at AAI-run airports across the country and will revert to an advance payment mechanism for daily flight operations. In another big boost for the airl...