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Home/ Asia/Pacific/ SpiceJet hives off SpiceXpress, results in one-time gain of $310 million

SpiceJet hives off SpiceXpress, results in one-time gain of $310 million

Victoria Tozer-Pennington
By Victoria Tozer-Pennington Apr 03, 2023 2 mins read
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SpiceJet hives off SpiceXpress, results in one-time gain of $310 million

SpiceJet has finally hived off its cargo arm-SpiceXpress, making it a separate entity. With this transaction, SpiceJet has gained around $310 million and considerably reduced its negative net worth. “The consideration for the sale will be discharged by SpiceXpress through security issuance in the ...

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