SpiceJet may issue fresh shares; funding required for proposed expansion: Ajay Singh

NEW DELHI: Listed SpiceJet may hit the market soon again. The low cost carrier's (LCC) promoter Ajay Singh told TOI that issuing fresh equity, without diluting his stake, is an option to fund its expansion plans.

"We have put in Rs 800 crore so far (after taking over the airline from Sun Group this February). Operationally there is no requirement for raising funds as there is restoration of confidence in brand SpiceJet among consumers and they are back with us, resulting in highest-in-industry aircraft occupancy," Singh said.

Singh adds that he plans to order planes for the airline this fiscal and funding will be required for the proposed expansion. "After two consecutive profitable quarters (following Singh's acquisition of SpiceJet), we are getting investment offers. The options are soft loans, getting a partner or fresh equity. We are weighing those options," Singh said.