Indian low-cost carrier SpiceJet has confirmed it is not in stake sale discussions with private equity firm TPG Capital.

Local media reported on 22 August that TPG Capital was negotiating with SpiceJet for a minority stake in the carrier.

"SpiceJet is not in discussions with TPG for stake sale and further," the carrier said in a statement posted on the Bombay Stock Exchange.

SpiceJet announced large-scale expansion plans in August.

The carrier announced its plans to order 15 Bombardier Q400 turboprops in December last year, with options for 15 more.

Source: Air Transport Intelligence news