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01-01-1970 12:00 AM | Source: Reuters
India's SpiceJet to transfer cargo business to unit, raise $300 million in fresh capital
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Indian low-cost carrier SpiceJet said on Monday it would transfer its cargo business to a unit for 25.56 billion rupees ($308.32 million), and raise another 25 billion rupees in fresh capital by issuing securities to qualified institutional buyers.
The cash-strapped airline said it will also convert its dues to aircraft lessor Carlyle Aviation into shares worth $29.5 million.
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