Spicejet may sell stake if FDI rules allow

India’s budget carrier the Kalanithi Maran-led Spicejet will evaluate a stake sale to a foreign carrier if the government were to change foreign direct investment (FDI) rules,its chief executive said on Monday.

We will evaluate it on the same basis as anything else. We are a business. We don’t need a bailout,whether it’s from a government or from a foreign airline,Neil Mills said in a telephonic interview,adding that the airline is currently not in talks with any foreign carrier.

India allows up to 49 percent foreign investment in Indian carriers but bars foreign carriers from picking stake.

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But with most carriers suffering losses,the government is now mulling allowing foreign airlines to pick up stake in local carriers.

FDI should be allowed because FDI by airlines is no different from FDI from any other company,Mills said.

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