SpiceJet stock gains on talks with Qatar Airways

Shares of SpiceJet Ltd surged more than 5 per cent following newspaper reports that the carrier was in talks with foreign airlines, including Qatar Airways, for a stake sale.

SpiceJet reports come close on the heals of reports that Etihad is likely to pick a stake in either Jet Airways or Kingfisher Airlines.

Indian carriers are increasingly looking at stake sales to pump fresh money as most of them are saddled with heavy debts. High cost of aviation turbine fuel has resulted in some of the carriers reporting losses, while Kingfisher Airlines has been the worst affected.

The government it may be recalled opened FDI in aviation only recently. The move was meant to open a wide range of opportunities for both domestic as well as foreign carriers.

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