Do not buy into aviation: Prakash Diwan

In a chat with ET Now, Prakash Diwan, Director, Altamount Capital Management, shares his view on aviation sector.
ET Now: A word on aviation, SpiceJet the CEO quits, Jet Airways well and truly at maybe the 52-week lows, what does one do here?

Prakash Diwan: Well if there is no compulsion do not buy them but if we were to buy into one of the two, it has to be SpiceJet. Jet is still going to face a lot of rough weather before we kind of start seeing some sliver lining on these dark clouds but Spice the change in management is a clear indication and the promoters basically want their way in terms of probably some of the alliances that the outgoing executives were not very keen on so Spice should see some sort of respite at least on that front sometime later.