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Rescue plan for SpiceJet seen by end of Jan - sources

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - A package to bail out SpiceJet Ltd could be finalised as early as this month, two sources with direct knowledge of the deal told Reuters, raising the prospect of a last-minute rescue for the indebted carrier.SpiceJet, India's second largest budget airline, was forced to ground its fleet briefly last month after it ran out of cash to pay creditors and its majority owner, billionaire Kalanithi Maran's Sun Group, said it would not put up any more money.Two days later, SpiceJet co-founder Ajay Singh said he was working on a financial plan with U.S. private equity investors, ...

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First Published: Fri, January 09 2015. 17:45 IST