Kingfisher Airlines eyeing a stake in SpiceJet

According to sources, UB Group chairman Vijay Mallya, is eyeing a stake in low-cost carrier (LCC) SpiceJet.

Last year Kingfisher Airlines took a 26% stake in Air Deccan and Mallya had evinced interest in picking up a stake in SpiceJet but things did not move forward.

Kingfisher is now learnt to be eyeing a part of either the 12.9% stake held by SpiceJet’s promoter, UK-based NRI Bhupendra Kansagra or the 13.4% stake held by Dubai-based investment firm Istithmar PJSC.

Kansagra was under a lock-in period, which barred him from selling any part of his stake in SpiceJet. The lock-in period ended a few months ago.