SPICEJET LTD (SPICEJET6.BO)
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ReutersIndian carrier SpiceJet's Ajay Singh submits bid for bankrupt Go First
BENGALURU (Reuters) -Indian budget carrier SpiceJet said on Friday its managing director, Ajay Singh, and Busy Bee Airways had submitted a joint bid for Go First airlines and that it would be the operating partner for its bankrupt rival. SpiceJet, which is cutting costs and raising funds to tide over its own financial troubles, did not disclose any financial details for Singh's bid that the airline's largest shareholder made in his personal capacity. SpiceJet shares closed 11.3% higher on Friday.
ReutersIndia's SpiceJet shows interest in buying bankrupt Go First, shares jump
BENGALURU (Reuters) -India's SpiceJet is considering an offer for bankrupt carrier Go First, the cash-strapped airline said on Tuesday, days after it barely raised enough funds to get its grounded planes back in the sky. SpiceJet said it would make the offer - the details of which were not disclosed - after conducting due diligence on Go First's resolution professional, the official involved in conducting the airline's insolvency process. The news comes weeks after Go First's lenders began contemplating the airline's liquidation as they failed to get any bids before the deadline of Nov. 21.
ReutersIndia's SpiceJet likely to raise $120 million-$144 million fresh capital - ET Now
BENGALURU (Reuters) -India's troubled domestic airline SpiceJet is likely to raise 10 billion rupees-12 billion rupees ($120 million-$144 million) in fresh capital to pay pending salaries and revive its grounded fleet of 25 aircrafts, local TV channel ET Now reported on Thursday. The budget carrier will consider raising capital through an issue of equity shares or convertible securities on a preferential basis on Dec. 11, SpiceJet said in an exchange filing on Wednesday. SpiceJet did not immediately respond to a Reuters' request for comment.
