The board of directors of SpiceJet has accepted an offer in-principle from the US-based PE firm that would make available about Rs 345 crore (around USD 80 million) to SpiceJet, a joint statement issued by SpiceJet and WL Ross & Co said.
WL Ross as an investor in SpiceJet. WL Ross is one of the largest and the most experienced investor in the world. SpiceJet will fulfill its promise of emerging as India’s leading airline," We believe in the long term validity of the low cost airline model in India and that fuel prices eventually will stabilise," Chairman & CEO, WL Ross & Co LLC Wilbur L Ross said. We are delighted to contribute to its growth and development," Ranjeet Nabha WL Ross India Managing Director & CEO said.