January 3, 2013 / 5:08 AM / 5 years ago

SpiceJet gains on foreign investment hopes

SpiceJet aircrafts prepare for landing and take-off at the airport in Mumbai July 15, 2008.Punit Paranjpe/Files

Reuters Market Eye - SpiceJet (SPJT.BO) ended nearly 1 percent higher on hopes the carrier would also attract foreign investment after a senior government source told reporters rival Jet Airways(JET.NS) was the front-runner to win an investment from Etihad Airways.

Later Jet Airways (JET.NS) said that it was in talks with Etihad for a potential stake sale in the Indian carrier, although terms have not been finalised yet. The statement was the first confirmation of a potential deal by either side.

Reporting by Abhishek Vishnoi

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