Beleaguered SpiceJet may see change of guard

 Beleaguered SpiceJet could see a change of guard if Indian and foreign investors, who are now carrying out due diligence of the cash-strapped airline, are convinced about investing over Rs 1,200 crore and picking up considerable stake in it, industry sources said on Sunday. 


After being on the brink of collapse with all its flights grounded five days ago, Ajay Singh, one of the original promoters of SpiceJet, seems to have stepped in as a white knight to help rescue the budget carrier by evincing interest to re-invest, along with other investors. 


The potential acquirers are likely to take 4-6 weeks to complete evaluating the cash-strapped budget carrier and its assets and take a decision thereafter, the sources said, adding that SpiceJet's data room has been opened for due diligence.

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