SpiceJet to seek time till Jan for recapitalisation plan

Troubled airline SpiceJet is looking to seek time till January for recapitalisation plan, sources tell CNBC-TV18’s Kritika Saxena.

The company is expected to come up with a recapitalisation plan and submit it by December 15. The management is learnt to have met investors in the US and Middle East. However, the investors are said to be concerned about the regulatory hurdle and growth prospects in the aviation sector.

The promoters, Marans, are unwilling to sell their complete 53.4 percent stake. They are looking to raise at least Rs 1,200 crore via sale and in case an investor backs out, they have may pump in the additional capital themselves.