Indian airline SpiceJet Ltd attracts the attention of Ryanair. Europe's biggest low-cost carrier is focusing to expand its services in the East. An account of the information is reported in columns of The Times of India that the authorities are diligently planning collaboration with Ryanair.
The paper says that the present strength of the SpiceJet fleet is 11 and it proposes to raise it to 18 in the proposed times. SpiceJet is consciously planning to raise 40 mln USD to finance the current expansion plans. It will also facilitate the company to launch overseas services.
Indian rules prohibit foreign airlines to invest directly in an Indian carrier. Shares can be purchased in its individual capacity by the promoters under conditions specified therein. The prevalent rules provide 51 pct stake is must for Indians.
The paper said, "Declan Ryan of the Ryan family, who started the airline in 1985, has held talks with SpiceJet management"
The paper quoted SpiceJet chief executive Siddhanta Sharma as saying, "Declan Ryan and another board member of his airline were going from London to Australia to attend Tiger Airline's board meeting. We requested them to stopover here and look at our model, if there are ways we can further improve our cost efficiency, which is anyway the lowest in India".
Mr. Sharma, an executive of SpiceJet has declined that it was meditating at Ryan for Investment and declared that the company is capable to continue operating as a standalone model.
