SpiceJet needs funds, says Kalanithi
SpiceJet shares were trading 3.3 per cent higher in mid-day trade at Rs 36.10 at the BSE.
Asked about the size of capital required by the airline, Narayanan said the quantum of funding requirement would be clear by March next year, as SpiceJet is currently having a re-look at its fleet plans, as the growth has slowed down a bit, although load factor has improved.
Narayanan said Kalanithi and Kavery Maran have resigned from Kal Airways to organise the board structures of various group companies.
"It is part of a reorganisation to free up time for promoters for other duties... Maran has checked out from some boards where he was not able to provide ample time anyway.
"But his resignation from Kal Airways board should not be inferred as promoters planning to exit or even dilute their stake in Spice Jet," he said, adding that Maran remains Chairman of SpiceJet board and continues to provide leadership and strategic direction to the airline.
"There are no plans to induct any strategic partner or sell equity stake to any financial investor at the moment," he said.
Be the first to comment.