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SpiceJet receives major lifeline, Wilbur Ross to invest USD80 million


SpiceJet was served a major lifeline this week, with US billionaire, Wilbur Ross, investing USD80 million to help save the troubled carrier. This follows a turbulent fortnight for SpiceJet, as it battled against a hostile takeover attempt from UB Group Chairman, Vijay Mallya, as well having the carrier’s CEO and Executive Chairman, Siddhanta Sharma, submit his resignation. [1071 words]

Unlock the following content in this report:


  • The cavalry is coming
  • UB Group walks away from the deal
  • CEO resigns

Graphs and data:

  • LCCs that have recently received funds
  • SpiceJet passenger traffic & growth rate: Jun-07 to Jun-08
  • Indian domestic market share by carrier (%): Three months ended 30-Jun-08
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