SpiceJet in investments talks with Gulf carriers

Low-cost airline SpiceJet is in "very preliminary" discussions with various Gulf carriers for possible investments, but any decision will be taken only after the government relaxes rules, a spokeswoman told Reuters.

September 13, 2012 / 18:24 IST

Low-cost airline SpiceJet is in "very preliminary" discussions with various Gulf carriers for possible investments, but any decision will be taken only after the government relaxes rules, a spokeswoman told Reuters.

The Indian cabinet will consider a proposal on Friday to allow foreign airlines to buy stakes in local carriers, moving forward with a much-delayed reform that could revitalise debt-ridden domestic carriers.

Under current rules, foreign airlines are barred from buying stakes in domestic carriers, although foreign investors are allowed to hold a cumulative 49%. If the proposal is approved, foreign airlines would be allowed to buy similar-sized shareholdings.

first published: Sep 13, 2012 03:00 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347