Abu Dhabi Investment Authority (ADIA) has shown interest in SpiceJet, acquiring shares from the open market, according to a spokesperson from the airline. This move follows SpiceJet’s recent capital infusion of Rs 1,060 crore through a preferential issue, coupled with efforts to streamline its balance sheet and address outstanding issues with lessors. Notably, a ₹250 crore settlement with Celestial Aviation has garnered attention from Foreign Institutional Investors (FIIs), resulting in a doubling of SpiceJet’s stock value.
While SpiceJet confirmed ADIA’s acquisition, specific details regarding the transaction remain undisclosed. The airline is actively navigating various challenges and is currently in the process of raising funds.
The involvement of Foreign Institutional Investors (FIIs) in SpiceJet has seen a substantial surge, rising from 0.33 per cent in December 2023 to 6.21 per cent in February 2024, marking a notable increase of 5.88 per cent.
Several key investors, including Aries Opportunities Fund Limited, Elara India Opportunities Fund Limited, and prominent aircraft leasing entity Carlyle Aviation Partners, already hold significant stakes in SpiceJet.
A significant milestone was reached on February 28 when SpiceJet and Celestial Aviation, a subsidiary of AerCap, successfully settled their ₹250 crore dispute through amicable negotiations. This development showcases SpiceJet’s commitment to resolving outstanding issues and fortifying its financial standing in the competitive aviation sector.