India's SpiceJet rumoured to be in talks with Singapore's Tigerair

Spicejet is reportedly in discussions with Tigerair regarding a possible equity stake sale, Indian newswire PTI said on Tuesday. 

Though SpiceJet officials refuted the reports, the move would fall in with the Singaporean carrier's remarks earlier this year that it was looking at opportunities for a strategic partnership in India. 

Market analysts reason that with the Indian LCC having posted a USD8.3million slump in profits during its most recent financial quarter which it blamed on currency depreciation and higher crude prices, a tie up with Tiger could present an important lifeline in the form of a much needed capital injection. 

Backed by south Indian media baron Kalanithi Maran, SpiceJet is India's second largest LCC and operates primarily domestic routes with a small regional network to boot.

Source: CH-Aviation