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SpiceJet co-founder plans investment: source

Ajay Singh may inject as much as 13b rupees in distressed carrier with some partners

TURBULENCE AHEAD: SpiceJet delayed salary payment to staff, cancelled flights and had to give back planes in the past month as it struggled to remain operational.

New Delhi

AJAY Singh, a co-founder of SpiceJet Ltd, plans to invest as much as 13 billion rupees (S$270.3 million) in the distressed carrier with some partners, a person with direct knowledge of the matter said.

Mr Singh, who resigned as a director of the airline in 2010, and his...

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