Istithmar, SpiceJet deal

by ArabianBusiness.com staff writer Sunday, 04 February 2007

Dubai government’s investment arm Istithmar has announced that it is to invest an “undisclosed sum” in Indian budget airline SpiceJet, according to chief executive David Jackson. Istithmar has already invested a massive US$50m in the carrier, and has spotted the airline’s growth potential as the Indian government rapidly opens up the country’s aviation sector.

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