Sun TV Network promoter, Kalanidhi Maran, is reportedly negotiating for a 44% stake in SpiceJet (India Express, 11-Jun-2010). Mr Maran has reportedly increased his offer price from INR39 to INR43 (compared with a close price on BSE on 10-Jun-2010 of INR57.85). Ernst & Young is advising Mr Maran. The agreement will likely occur in three tranches, with Mr Maran first acquiring a 13% stake from the Kansagra family and almost 10% from Wilbur Ross, followed by the acquisition of 21% from Mr Ross in two tranches. The transaction is likely to be announced by the end of Jun-2010. If the agreement proceeds, Mr Maran would be required to make an open offer for a further 20% stake in the LCC, which, if fully subscribed, would increase his stake to 64%, with Mr Maran to appoint a new CEO if he gains majority ownership.
Sun TV promoter increases offer for SpiceJet
You may also be interested in the following articles...
India is driving expansion in South Asia
Aviation activity in South Asia in 2017 is expected to be dominated once again by India, currently the fastest growing large market in the world. As India goes through one of the brightest periods of its economic and aviation growth, the prospects look more positive for sustainable growth than recent history has delivered.
Ryanair's 117million pax in 2016 tops European airline groups. The first time an LCC topped rankings
For the first time ever in Europe, in 2016 a low cost airline carried more passengers than any other airline or airline group, as Ryanair's 117 million passengers pushed Lufthansa Group's 110 million into second place. Ryanair had beaten Lufthansa itself, but not the whole Lufthansa Group. IAG's first full year of including Aer Lingus helped it to take third place from Air France-KLM. Europe's number two LCC, easyJet, was ranked fifth.
The big five can be expanded into a big seven to include Turkish Airlines and the Aeroflot Group, although these two had contrasting growth rates in 2016. A chasing pack of middle sized airline groups includes three LCCs (Norwegian, Pegasus and Wizz Air) and three legacy airlines with varying challenges to establishing sustainable profitability (SAS, Air Berlin Group and Alitalia).
Most of the faster growing airline groups in the top 20 are LCCs and the main growth drivers for Europe's big three legacy groups are their LCC subsidiaries. Just outside the top 20 are some fast growing legacy airlines in Eastern Europe, demonstrating the potential there. Nevertheless, unless there is a big merger or acquisition, Ryanair looks set to remain at number one for some time.