SpiceJet's biggest shareholder, Ajay Singh wants to sell his stakes?

Budget carrier SpiceJet's talks with Middle Eastern carrier for a possible stake sale is giving us déjà vu of Jet and Etihad wherein Etihad had bought out 24% stake in Jet in 2013.

Ajay Singh, Chairman and Managing Director of SpiceJet, is reportedly exploring the possibility of a partial stake sale in the airline. According to reports, Singh presently holds around 60 percent stake in the airline.

Sources said a big Middle Eastern airline has expressed interest to pick a 24 per cent stake and a board seat in SpiceJet. A big Indian business conglomerate has also approached Singh for a stake in the airline.

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Along with this, SpiceJet has entered into a full and final settlement with the Airports Authority of India (AAI) and has cleared all outstanding principal dues of the airport operator.

With this, SpiceJet will no longer remain on 'cash and carry' at AAI-run airports across the country and will revert to an advance payment mechanism for daily flight operations.