SpiceJet (SG, Delhi Int'l) has received offers from a number of investors but does not currently need external financing and will only consider "strategic" bids, Chairman and CEO Ajay Singh told Bloomberg.

"SpiceJet has enough cash. We have to see if this serves SpiceJet's long-term interests, and when we come to that determination, we’ll do something. These are typical in a situation when an airline is doing well and the market is as promising as India," Singh said.

Singh currently controls a 59.6% stake in the carrier while his wife Kalpana owns an extra 0.4% stake.

The Chairman pointed out that the current market environment is not, in general, favourable for a stake-for-cash transaction. SpiceJet is planning to execute a number of sale and leaseback transactions with lessors this year as a means of raising capital.

In the fiscal year 2018/19, ended on March 31, 2019, SpiceJet posted a net consolidated loss of INR3 billion rupees (USD43.2 million), down from a INR5.6 billion rupee (USD80.7 million) profit in the previous fiscal year. It was the carrier's first year in the red for the last four years.