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SpiceJet has no plans to either dilute its equity or sell equity to a foreign airline at this point in time, Ajay Singh, the airline’s promoter has said.
“We think that at this time diluting equity is not the best option for us,” Singh told BusinessLine in an interview.
Declining to put a time-frame by when such a possibility might arise, Singh said, “Let us see how the company does in the future.”
Explaining his thinking, Singh said the company is profitable and it is generating a significant amount of cash right now and so obviously the operations do not need any cash.
“In terms of new orders that we intend to place, some money will be required.
“Now we have to see how much we can generate internally and some bank limits which we have which are completely unutilised at this time because in the course of this year we have paid off all the banks. So there is nothing,” he added.
The airline’s promoter maintained that the airline had been approached by some foreign airlines, but declined to get into specifics.
He added that “I do not think this is the time to do those kind of deals anyway.”
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