SpiceJet shares up strongly

Shares in Indian LCC SpiceJet spiked 7% yesterday, on heavy afternoon trading. The jump follows an announcement on Monday that KAL Airways Pvt, the carrier's controlling shareholder, has pledged 38.4% of its holding in the low-cost carrier.

KAL Airways has pledged 31.25 million of its shares, which accounts for 14.8% of the carrier's total share capital.

Elsewhere in India, IndiGo Airlines and Hong Kong Aviation Capital closed the sale and lease back of a new A320 with financing from China Development Bank. HKAC now has a total of eight A320s on lease to IndiGo. See related report: Hong Kong Aviation Capital and IndiGo Airlines close sale and lease back on new Airbus A320

Selected LCC share price movements (% change): 05-Apr-2011