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.

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