SpiceJet seeks RBI nod to raise $270 mn

SpiceJet had in November agreed to buy as many as 30 Nextgen turboprop aircraft from Bombardier for about $915 million. The firm is controlled by Kalanithi Maran,who also owns media firm Sun TV ,and ranks fourth in terms of marketshare behind rival IndiGo.

Air traffic has been steadily rising in India,as demand booms in an economy growing at over 8 percent. Domestic air traffic rose 17.6 percent on year in Jan-May. The company had posted a net profit of 1.01 billion rupees for the year ended March 31.

SpiceJet shares closed up 19.85 percent at 32.60 rupees on the Bombay Stock Exchange that gained 2.9 percent.