SpiceJet Considers Buying Grounded Indian Carrier Go Air
- Go hasn’t flown since entering bankruptcy protection in May
- SpiceJet reported a quarterly loss of over 4 billion rupees
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Shortly after reporting a quarterly loss, SpiceJet Ltd. has announced it is considering acquiring the insolvent Go Airlines India Ltd., which stopped flying in May, with a goal of possibly combining the two airlines.
The no-frills carrier is planning to submit an offer after conducting due diligence of Go, it said in a stock exchange filing Tuesday. SpiceJet intends to create a “strong and viable airline in a possible combination” with itself.