India’s Jet Airways Ltd. is eyeing a stake in low-cost Indian airliner SpiceJet Ltd., the Business Standard reported, quoting unnamed sources. Investment bankers representing both companies are likely to meet next week to discuss the issue, the report said.
Jet Airways is eyeing the 13 percent stakes each held by the Kansagra family-founded Royal Holding Services and Gulf-based investment house Istithmar PJSC, sources said in the report.
The sources added that Kingfisher Airlines, run by Vijay Mallya-headed United Breweries Group, has also started talks with SpiceJet for a buyout.
SpiceJet Director Ajay Singh and Jet Airways Chief Executive Wolfgang Prock-Schauer denied the report to the newspaper.