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SpiceJet set to get US$200m boost from founder, JPMorgan

Published Fri, Dec 26, 2014 · 09:50 PM
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New Delhi

JPMORGAN Chase & Co is partnering with SpiceJet Ltd's co-founder for a US$200 million holding in the distressed Indian carrier, a senior government official said.

A private-equity unit of JPMorgan and Ajay Singh, who quit as a director of the airline in 2010, plan to buy the entire stake held by majority shareholder Kalanithi Maran, said the official with direct knowledge of Mr Singh's plans.

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