Foreign stake sale rumours fly around Jet & SpiceJet
28 Nov 2012 4:37 AM IST
SpiceJet on Monday said some foreign airlines have evinced interest in it amid speculation that AirAsia and Qatar Airways have expressed keenness to buy stakes, while market was also abuzz with another overseas carrier Etihad being interested in Jet Airways.
Share prices of SpiceJet rose sharply by 13 per cent amid stake sale speculation and touched a one-year record high during the intra-day trade at the stock exchanges.
Interestingly, another domestic carrier Kingfisher Airlines has been saying for a long time that it could consider selling equity to a foreign airline. Kingfisher shares also rose 5 per cent today to a month-high of Rs 14.4. While both the domestic carriers declined to comment specifically on the speculation, low-cost airline SpiceJet said, “It is true that a few foreign airlines/investors have evinced interest in SpiceJet.”
It will be, however, very premature to comment on the possibilities of any fresh equity issuance to such interested parties, a SpiceJet spokesperson said.
Reacting to reports about a possible deal with UAE’s Etihad Airways, Jet said: “We are aware that recently there has been much speculation in the Press. The company, however, cannot comment on such speculative reports.”
Regarding SpiceJet, the market is abuzz with speculation about Malaysia’s AirAsia as also Qatar Airways being interested in acquiring stake in it.
The company, however, said that “SpiceJet has been subject of several speculative reports appearing in the media during the last few months.
“While it is true that a few foreign airlines/investors have evinced interest in SpiceJet, it will be very premature to comment on the possibilities of any fresh equity issuance to such interested parties. “In line with our internal policy to not comment on market rumours, we cannot confirm or deny any of the names which have appeared in the media from time to time,” a spokesperson said.
Separately, SpiceJet said in a BSE filing that “though few investors have evinced interest in the company post Government of India allowing FDI in civil aviation sector to foreign airlines, it will be very pre-mature to comment on the possibilities of any fresh equity issuance to such interested parties or confirm/deny names of any specific entity.”
SpiceJet shares today settled 13 per cent higher at Rs 44.4 at the BSE, after touching a 52-week high of Rs 48.85.
There have been reports that top Jet officials have recently been in the UAE to hold talks for a possible deal with Etihad, although there have been on official word on the same.
JET AIRWAYS SHARES SOAR TO 52-WK HIGH
At close on Monday, shares of Jet Airways were up 10.81 per cent at Rs 560.40 on the BSE. During the day, the stock had gained 18.39 per cent to touch a 52-week high of Rs 598.80. On NSE, the scrip settled at Rs 555.55, up 9.88 per cent from its previous close. In terms of volume, 38.87 lakh shares of the company changed hands on the BSE, while more than one crore shares were traded on NSE. In the broader market, the BSE benchmark Sensex ended at 18,537.01, up 30.44 points.
Share prices of SpiceJet rose sharply by 13 per cent amid stake sale speculation and touched a one-year record high during the intra-day trade at the stock exchanges.
Interestingly, another domestic carrier Kingfisher Airlines has been saying for a long time that it could consider selling equity to a foreign airline. Kingfisher shares also rose 5 per cent today to a month-high of Rs 14.4. While both the domestic carriers declined to comment specifically on the speculation, low-cost airline SpiceJet said, “It is true that a few foreign airlines/investors have evinced interest in SpiceJet.”
It will be, however, very premature to comment on the possibilities of any fresh equity issuance to such interested parties, a SpiceJet spokesperson said.
Reacting to reports about a possible deal with UAE’s Etihad Airways, Jet said: “We are aware that recently there has been much speculation in the Press. The company, however, cannot comment on such speculative reports.”
Regarding SpiceJet, the market is abuzz with speculation about Malaysia’s AirAsia as also Qatar Airways being interested in acquiring stake in it.
The company, however, said that “SpiceJet has been subject of several speculative reports appearing in the media during the last few months.
“While it is true that a few foreign airlines/investors have evinced interest in SpiceJet, it will be very premature to comment on the possibilities of any fresh equity issuance to such interested parties. “In line with our internal policy to not comment on market rumours, we cannot confirm or deny any of the names which have appeared in the media from time to time,” a spokesperson said.
Separately, SpiceJet said in a BSE filing that “though few investors have evinced interest in the company post Government of India allowing FDI in civil aviation sector to foreign airlines, it will be very pre-mature to comment on the possibilities of any fresh equity issuance to such interested parties or confirm/deny names of any specific entity.”
SpiceJet shares today settled 13 per cent higher at Rs 44.4 at the BSE, after touching a 52-week high of Rs 48.85.
There have been reports that top Jet officials have recently been in the UAE to hold talks for a possible deal with Etihad, although there have been on official word on the same.
JET AIRWAYS SHARES SOAR TO 52-WK HIGH
At close on Monday, shares of Jet Airways were up 10.81 per cent at Rs 560.40 on the BSE. During the day, the stock had gained 18.39 per cent to touch a 52-week high of Rs 598.80. On NSE, the scrip settled at Rs 555.55, up 9.88 per cent from its previous close. In terms of volume, 38.87 lakh shares of the company changed hands on the BSE, while more than one crore shares were traded on NSE. In the broader market, the BSE benchmark Sensex ended at 18,537.01, up 30.44 points.
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