The managing director and promoter of SpiceJet (SG, Delhi International) will sell 10% of his stake in the carrier in a bid to raise around INR30 billion rupees (USD357 million) to help keep the airline afloat, according to The Economic Times. Singh, along with family members and entities associated with him, currently holds a 47.8 % stake in SpiceJet.

The report suggests the share parcel is already being touted to potential investors and may settle as soon as September. The sale will see Singh’s stake in SpiceJet drop to…

Source: ch aviation
Read more: Promoter of India's SpiceJet set to sell 10% stake