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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The cargo arm, carved out of SpiceJet on the basis of the promise it showed during the pandemic, is now more appendage and less the trump card it was cracked up to be.
Ajay Singh, chairman and managing director of SpiceJet, would be stoked. On 1 August, the low-cost airline announced that it would sell a 5.9% stake to Carlyle Aviation Partners at Rs 48 a share. In doing so, Singh had not just convinced the US-based aircraft leasing firm to shell out a 55% premium to SpiceJet’s current share price, but also managed to clear $28 million in dues.
Not just that. A further $70 million that the airline owed Carlyle Aviation would also get settled. This would happen by way of the leasing firm picking up compulsorily convertible debentures of SpiceXpress, …
