Dubai-based investment firm Istithmar and the Singapore government’s Temasek Holdings plan to invest $20 million in Indian low-cost carrier SpiceJet, which launched operations in May.
SpiceJet says Singapore-based MacRitchie Investments, a wholly-owned subsidiary of Temasek Holdings, and Istithmar “have agreed to invest $20 million in the equity capital of the company”. It adds that the joint investment is subject to shareholder approval.
Temasek is the Singapore government’s investment arm and owner of 57% of Singapore Airlines. Istithmar is an investment company linked to the Dubai government.
Spicejet launched domestic operations on 23 May using leased Boeing 737-800s and has 10 737-800s on order.
LEITHEN FRANCIS/SINGAPORE
Source: Flight International
