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SpiceJet today said that it is looking for strategic partner, but not a financial investor. The Airline said that they were looking for a partner who can improve the airline's efficiency. The Airline also said it will look at restructuring some of its routes to improve operational efficiency.
Speaking on the sidelines of company's AGM today SL Narayanan, Group CFO, Sun Group, said that "there is interest from many quarters. We are looking for strong partner who can add value and the investor will be a strategic investor, since financial investors may not come at this time".
Though the airline has met few interested potential partners, nothing serious is happening, he added.
He added, "we are not a depository of all the information, so we need a strategic partner who can bring best practices, improve our efficiency, who got better understanding with MROs. We can do inter lining and can extend our network through this partnership".
Narayanan ruled out the company has appointed any investment Bankers and market buzz stated that the Airline is in talks with Tiger Airways and others.
This year our focus will be on improving the performance and for better revenue. "We don't mind loosing market share, our focus is to strengthen our bottom line".
Narayanan also said the Airline will look at restructuring routes through which it may let go routes which are not viable.
He added, the company will look at more international routes as the load factors are good at around 80%.
