Business Daily from THE HINDU group of publications
Wednesday, Feb 11, 2009
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Business Daily from THE HINDU group of publications Wednesday, Feb 11, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Logistics
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Airlines SpiceJet open to acquiring another low-cost airline 
Mr Sanjay Aggarwal Our Bureau Bangalore, Feb. 10 Low-cost carrier SpiceJet has said that it is willing to look at acquiring another low-cost airline in the near term. “There is not enough room for five low-cost carriers in India. A consolidation will surely happen in this space. Once that happens, we will be interested in buying another airline,” the SpiceJet Chief Executive Officer, Mr Sanjay Aggarwal, told newspersons here on Tuesday. He said the company’s financials were strong and it had enough money in the bank. He did not specify the amount of investment the company had earmarked for the acquisition. He said that the company was still to fully utilise the funds from Wilbur Ross, of the US, which had invested $80 million in SpiceJet. He said that with a smaller fleet size, an airline could also look at different type of aircraft. SpiceJet flies only Boeing aircraft at present. The other low-cost carriers are JetLite, Kingfisher Red, Indigo and GoAir. Mr Aggarwal said the airline would phase out expatriate pilots over a period of time. The airline planned to add 12 aircraft to its fleet. SpiceJet reports net loss of Rs 17.96 cr in Q3 More Stories on : Airlines | Mergers & Acquisitions
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