flydubai denies SpiceJet deal talk

The Dubai-based airline issued a statement following a media report saying a deal is in works

Low cost airline flydubai has denied it is in talks with SpiceJet for a stake purchase in Indian carrier. The Dubai-based airline issued a statement following a media report, which said SpiceJet and flydubai are in discussions for a possible deal.

"Following recent press reports, flydubai confirms that it is not in talks with SpiceJet," an airline spokesperson said in an email response.

While SpiceJet has been attracting interest of investors, a senior company executive told this paper last week that the management was not in a hurry to conclude the deal. This reaction came following reports that Qatar Airways was eyeing stake in the airline.

"We have received initial promoter funding from Ajay Singh and there is no crisis situation now. There are parties interested in SpiceJet but we are not in a hurry to sell stake. We continue to hold discussions with multiple airlines for commercial agreements but all the talk about Qatar Airways' investment is complete speculation," the executive added.