SpiceJet's Chairman Ajay Singh is considering selling 10-15% of his stake in the struggling airline to raise funds.
The airline, facing financial issues, legal challenges, and a reduced fleet, aims to secure up to Rs 2,000 crore through a Qualified Institutional Placement (QIP). Discussions with investors in India and abroad are ongoing, with the funding round expected to close by the end of September. The raised funds will be used to bring back grounded aircraft, settle liabilities, and expand the fleet.