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Spicejet: SpiceJet’s lessor eyes 5% stake for $100 million dues
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NEW DELHI: In a relief to SpiceJet, one of its biggest lessors, Miami-based Carlyle Aviation Partners, is planning to convert dues of over $100 million into about 5% stake in the low cost carrier. Additionally, Carlyle, which has leased 13 Boeing 737s to the airline, will convert a part of dues into CCDs of SpiceXpress at a future valuation of over $1 billion, said sources.
SpiceJet is also in talks with other creditors to convert dues into equity. “Reduction in debt will deleverage balance sheet for expansion,” said sources. Comments were sought from SpiceJet on Carlyle and awaited till time of going to press.
SpiceJet is also in talks with other creditors to convert dues into equity. “Reduction in debt will deleverage balance sheet for expansion,” said sources. Comments were sought from SpiceJet on Carlyle and awaited till time of going to press.
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