SpiceJet (SG, Delhi International) General Manager for Corporate Affairs, Ajay Jasra, has confirmed the LCC has indeed held preliminary talks with two unspecified Gulf-based carriers, keen to invest in the rejuvenated airline.
“Yes, we have been approached by some airlines for a strategic partnership in the past," Jasra told the Hindustan Times. "Beyond this, we cannot share anything at the moment."
Qatar Airways (QR, Doha Hamad International) has, in recent months, indicated a strong interest in investing in an Indian LCC, eyeing a stake in the highly profitable IndiGo Airlines (6E, Delhi International) in particular. However, while the Qatari CEO Akbar al Baker has dismissed Spicejet in the past, its renewed growth under new CEO Ajay Singh may change all that.
As part of his recapitalization of the moribund carrier, airline founder Ajay Singh in January pledged to invest a total of INR15 billion (USD236 million) into Spicejet while dramatically restructuring its operations and cost overheads. As a result, SpiceJet has seen renewed growth culminating in it posting a profit of INR225.2 million (USD3.53 million) for the first quarter of the year.
To help sustain its growth momentum, the LCC has also announced plans to raise up to INR3 billion (USD47.2 million) in additional capital needed to grow its fleet to 45-50 aircraft by March 2016.
Currently, Spicejet operates sixteen B737-800s, two B737-900(ER)s, fourteen Dash 8-400s, and two A319-100s - one leased from CSA Czech Airlines (OK, Prague Václav Havel) and another from Bulgaria's BH Air - Balkan Holidays Air (8H, Sofia).