SpiceJet says ADIA buys its shares from open market

New Delhi: SpiceJet on Monday said Abu Dhabi’s sovereign wealth fund ADIA has acquired shares of the airline from the open market.

However, the carrier did not disclose specific details.

A source close to the airline said Abu Dhabi Investment Authority (ADIA) started buying shares in late February.

The no-frills carrier is facing multiple headwinds and is in the process of raising funds.

“ADIA has acquired shares of the airline from the open market,” a SpiceJet spokesperson said on Monday.

In recent weeks, the carrier has raised a total of Rs 1,060 crore through preferential issuance of securities.