SpiceXpress to be hived off from SpiceJet by first week of August
On 17 August, 2021, SpiceJet had announced it was transferring its cargo and logistics services on a slump sale basis to its subsidiary SpiceXpress as it will allow the company to raise funds independent of the budget carrier and rapidly grow.
Banks and shareholders have given their approval to hive off cargo and logistics company SpiceXpress from SpiceJet airline and the bifurcation will be done by the first week of August, the carrier's CMD Ajay Singh has said.
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