India's SpiceJet says top shareholder to inject $61 mln in airline (updated)

Spicejet

12/07/2023 14:08

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       BENGALURU, July 12 (Reuters) - Indian low-cost carrier
SpiceJet  SPJT.NS  said on Wednesday top shareholder Ajay Singh
would infuse 5 billion rupees ($60.85 million) into the company
to strengthen the airline's financial position.
    Ajay Singh, also SpiceJet's managing director, holds a 50.6%
stake in the company, as per exchange data.
    The fundraise comes as SpiceJet looks to quell fears of the
airline going insolvent after rival GoFirst filed for voluntary
bankruptcy.

($1 = 82.1664 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru; Editing by Nivedita
Bhattacharjee)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))