wl-ross-invests-in-indias-spicejet

WL Ross invests in India's SpiceJet

The US investment firm invests just under $80 million in Indian budget carrier SpiceJet to help fund the airline's fleet expansion.
Specialist investment firm WL Ross will invest Rs3.45 billion $79.8 million in the latest round of capital raising by Indian budget airline SpiceJet. The investment gives WL Ross two seats on the board.

SpiceJet took to the air in mid-2005 as one of a new breed of low-cost carriers in India. In line with its low-cost positioning, SpiceJet flies only one type of aircraft, Boeing 737s, which allows it to control maintenance costs. It also focuses on profitable urban routes with high passenger volumes, enabling it to quickly turn around its planes and ensure maximum asset utilisation. A combination of these factors has ensured that SpiceJet has enjoyed the highest load...
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