Shares of SpiceJet gained around 1 percent on Wednesday on reports that Emirates had revived its interest to pick up a stake in the airline. Emirates seems to be picking up cues from the Jet-Etihad deal to formulate its strategy to buy stake in SpiceJet, reports CNBC-TV18's Manasvi Ghelani.
Also read: Civil aviation min may remove user development fee An internal team from Emirates has already started to conduct a study to test the feasibility of the stake in SpiceJet. The deal, if clinched, will save Emirates from paying exorbitant parking charges in India. The deal will also allow Emirates to capitalise on SpiceJet's connectivity to tier-II and tier-III cities in the country and this will boost the Gulf-based airline's carrying capacity from the current limit of 35,000 passengers. When contacted, SpiceJet and Emirates declined to comment.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!
