Home >companies >news >SpiceJet won’t bid for Air India, says Ajay Singh

New Delhi: SpiceJet Ltd chairman and managing director Ajay Singh said on Friday the airline has no plans to bid for Air India.

“We are too small an airline to acquire Air India itself," Singh said on the sidelines of the opening of SpiceJet’s range of stores in Gurugram called SpiceStyle, which will sell merchandise and help the airline increase ancillary revenue.

SpiceJet, with about 45 planes, controls 13% of the domestic market share. The company was valued at Rs7,800 crore at Friday’s closing share price of Rs132.15, which was up 1.73% on BSE on a day the benchmark Sensex rose 0.21% to 30,921.61 points.

Rival IndiGo has shown interest in taking over the airline.

Air India was launched in 1932 by J.R.D. Tata as Tata Airlines. Its name was changed to Air India in 1946. The government decided to take over the airline in 1953.

The airline has the largest domestic and long-haul fleet of 140 planes in the country and flies to nearly 41 international and 72 domestic destinations.

Subscribe to newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperLivemint.com is now on Telegram. Join Livemint channel in your Telegram and stay updated

Close
×
My Reads Logout