Kansagra not keen on exiting SpiceJet

There have been reports which say that the Kansagra family may be looking at selling 13% stake that they have. But sources stated that it may not happen at least for now because of the low valuations.

Sources further added that SpiceJet may be looking at an additional investor for additional funds of up to USD 100 million. Since the flight's running-and-operation costs are around Rs 6 crore ever day, they may need the money for the advance payment of aircraft in running operations. They are in talks with bankers for suggestions on potential investors and also the route by which they may pick up the funds.

This could mean fresh equity or loans. They are still in talks. The company was in talks with EXIM banks for loans. But that is still under consideration and will be decided by the end of this year or early next year, when they need that money.

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