Unconfirmed reports in local media suggesting that new SpiceJet promotor Ajay Singh is talking with foreign airlines concerning a possible stake sale in the troubled India carrier. Even though the report state that a strategic stake sale would be some way off, shares in SpiceJet surged over 13% in intraday trading. The stock rallied 13.78% to touch intraday high of Rs 24.35.
Singh has increased service payment to Airports Authority of India (AAI) after infusing Rs 500 crore equity in the company.