UK’s SRAM & MRAM group to invest $100 mn in SpiceXpress
The investment comes days after budget airline SpiceJet's subsidiary ‘SpiceXpress’ was hived off into a separate entity
The investment comes days after budget airline SpiceJet's subsidiary ‘SpiceXpress’ was hived off into a separate entity
The move paves the way for SpiceXpress to raise funds independently.
The low-cost airline's board also proposed raising fresh capital of up to ₹2,500 crore by issuing securities to qualified institutional buyers.
The strategy to launch the cargo business has paid off, but Ajay Singh has to ensure adequate capital for the airline, while battling rising costs and stiff competition.