The SpiceJet board yesterday announced that asset management firm WL Ross & Co. will invest approximately $80 million in the New Delhi-based LCC as Kingfisher's efforts to acquire the carrier were rebuffed. "We have no doubt that SpiceJet will fulfill its promise of emerging as India's leading airline," the board said in a statement, while Wilbur Ross Jr. said his firm "believe[s] in the long-term validity of the low-cost airline model in India and that fuel prices eventually will ...

Subscribe to Access this Entire Article

"SpiceJet prefers WL Ross to Kingfisher" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions?

Already registered? here.