The Ministry of civil aviation has given an initial nod to SpiceJet recapitalisation plan subject to it complying with FDI cap on the sector. Sources told CNBC-TV18 that the ministry has no objection to change in management control of the airline as long as no foreign airline money is involved.It has been learnt that new promoters may acquire 58 percent stake in the airline. However, there is no comment on whether the airline's new promoters would be exempted from doing an open offer.The ministry has also asked DGCA to lift ban on Spicejet's advance bookings and sources say the laid off employees may be reinducted after new promoters go for fleet expansion. They will be on "furlough" for now. The New promoters plan to immediately increase boeing fleet from 19 to 26 after taking control. Although, aircraft lessors have sought DGCA nod for repossessing 11 aircraft, sources say new promoters are confident of retaining all aircraft.
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