Indian low-cost carrier SpiceJet, which was threatened with aircraft lease cancellations and potential bankruptcy in recent months, has rebuffed an offer from JP Morgan Chase for an equity-led bailout. Founder Ajay Singh has regained control of the airline after a series of operational and financial problems, mainly due to the competitive Indian LCC market and its razor-thin margins in the face of competition from other regional LCCs such as IndiGo and now-defunct Kingfisher. However, ...

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