Hindustan Times, 6 Aug 2013According to sources, SpiceJet promoter and media baron Kalanithi Maran may offload up to 24% to Tigerair as the airline faces fall in profits and attempts to retire debt, the sources familiar with the development said.
The Chennai-based airline reported a 10% fall in its net profit in the June quarter.
Tigerair had early this year said it was looking for a partner to invest in the country.
"We are studying about having an inter-airline agreement or a strategic partnership with (an) Indian Airline," Tigerair commercial director Kaneswaran Avili had reportedly said in March. Full story
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