SpiceJet witnessed a remarkable surge of nearly 8% on December 19, reaching a 52-week high of Rs 64.21, following the company’s official confirmation of its intention to bid for the financially troubled Go Airlines (India) Ltd, commonly known as Go First.
SpiceJet envisions the strategic acquisition as a means to forge a robust and sustainable airline entity through the amalgamation of Go First and SpiceJet.
In a proactive move, the SpiceJet board recently greenlit and initiated the process of securing fresh capital amounting to approximately $270 million. This capital infusion is geared towards fortifying the financial resilience of the low-cost carrier, providing the necessary resources to fuel its ambitious growth plans.
As of 12:37 pm the shares were trading 4.11% higher at ₹66.85
