Liquor baron Vijay Mallya’s thirst for low-cost airlines seems to have become insatiable. Kingfisher is now planning to spread its wings once again, by targeting SpiceJet.
After gulping down 26 per cent of the country’s largest low-cost airline, Air Deccan, the promoter of Kingfisher Airlines has dropped hints that he is interested in acquiring a stake even in Delhi-based budget carrier SpiceJet.SpiceJet is India's second largest low-cost airline with a market share of nine per cent. SpiceJet operates over 83 daily flights in 14 cities with 11 Boeing 737-800 aircraft.
The Indian aviation industry has already seen several mergers with Jet Airways taking over Air Sahara and the Indian Airlines being merged with Air-India. Mallya’s latest move is part of the consolidation taking place in the Indian skies.
(Source: CNN IBN)
(Contributor: Varun Gupta, Irevna Research Services)
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