LIVE TV DownloadNews18 App
News18 English
»
1-min read

SpiceJet to Enter into Major Business Partnerships With Two US Companies: CMD Ajay Singh

He said SpiceJet is exploring an alliance with a major international carrier and also another major American company.

PTI

Updated:July 13, 2018, 9:32 AM IST
facebookTwittergoogleskypewhatsapp
SpiceJet to Enter into Major Business Partnerships With Two US Companies: CMD Ajay Singh
File photo of a Spicejet plane. (Photo: Reuters)
Loading...
Washington: Low-cost carrier SpiceJet is considering entering into major business partnerships with two American companies, including an international airline, and diversifying its activities beyond aviation, its chairman and managing director Ajay Singh has said.

Acknowledging that aviation is a "fairly high-risk enterprise", the airline's chief said, "We must hedge ourselves from the risk of being in a pure aviation business and find the businesses which are connected to aviation, which would be a little more insulated from the high cost of fuel and so on.

"So, we are looking at some new areas. We will be making announcements at the appropriate time. We believe that there are significant strategic partnerships that we can enter into and we will be announcing them soon," Singh told reporters on the sidelines of the Annual Leadership Summit of US-India Strategic and Partnership Summit (USISPF) here yesterday.

He said SpiceJet is exploring an alliance with a major international carrier and also another major American company.

Refraining from naming the partner companies in the US, Singh said it is looking at the technology sector.

"We think that that's a important space to be in the digital and technology space. We want to be in the cargo, courier and logistics business. We believe that that's going to be an important part of SpiceJet's business," Singh said, noting that this would be the "first" for an Indian airline.

Expanding SpiceJet to the US is not on the cards right now, he said, adding that the company is looking more at the collaboration in terms of improving the operating performance, and finding a new technology to improve consumer experience.

There would be some strategic understanding with US companies in the sphere of cargo and courier, he said, describing it as a logistic rather than courier business.

Catch the Biggest Newsmakers and the Biggest Newsbreaks on CNN-News18, your favourite English TV news channel. Keep watching CNN-News18 at just 50 Paise per Month. Contact your cable /DTH operator Now!
*Rental / capacity fee of Rs.130/- as charged by cable / DTH operator may apply. **GST extra.

| Edited by: Parth Sharma
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 219.00 -1.02
Dr Reddys Labs 2,563.35 -3.90
Reliance 1,244.45 1.65
ITC 280.10 0.79
Axis Bank 686.60 -1.21
Company Price Change %Gain
Yes Bank 218.70 -1.04
Dr Reddys Labs 2,556.90 -4.21
Reliance 1,243.50 1.47
Jet Airways 232.55 2.99
GRUH Finance 239.30 -3.22
Top Gainers
Company Price Change %Gain
BPCL 327.85 3.87
NTPC 136.25 3.81
Power Grid Corp 181.50 3.74
Bharti Infratel 306.90 3.26
GAIL 317.75 3.18
Company Price Change %Gain
NTPC 136.20 4.13
Power Grid Corp 181.50 3.80
ONGC 135.10 2.27
Reliance 1,243.50 1.47
Larsen 1,243.25 1.31
Top Losers
Company Price Change %Gain
JSW Steel 266.90 -4.90
Sun Pharma 422.90 -4.08
Dr Reddys Labs 2,563.35 -3.90
Tata Steel 467.50 -3.12
Vedanta 147.30 -2.93
Company Price Change %Gain
Sun Pharma 423.30 -3.94
Tata Steel 467.45 -3.12
Vedanta 147.45 -2.87
Hero Motocorp 2,702.30 -2.75
Bajaj Finance 2,557.50 -1.90

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results