ADIA acquires stake in SpiceJet from open market | View the most important details here

An airline official claimed that Foreign Institutional Investors’ (FIIs) ownership in SpiceJet has seen a sharp increase, rising 5.88 percent from 0.33 percent in December 2023 to 6.21 percent in February 2024.

New Delhi: Abu Dhabi Investment Authority (ADIA) recently acquired shares of Spicejet from the open market. “Yes, ADIA has acquired shares of the airline in the open market,” the airline spokesperson said while confirming the development.

An airline official claimed that Foreign Institutional Investors’ (FIIs) ownership in SpiceJet has seen a sharp increase, rising 5.88 percent from 0.33 percent in December 2023 to 6.21 percent in February 2024.

SpiceJet recently secured investments worth a total of Rs 1,060 crore through a preferential issue, with notable investors including Aries Opportunities Fund Limited and Elara India Opportunities Fund Limited.

According to aviation officials, some of these funds will be allocated to settling past debts.
On February 28, Spicejet had mutually settled their dispute worth Rs 250 crore through amicable negotiations with Celestial Aviation, a subsidiary of AerCap, one of the largest aircraft lessor groups.