The announcement added that Singh was making the joint bid in a personal capacity, and came at a time when the airline he co-founded in 2005 has been reeling under stretched finances, with new cost-cuts and fundraising plans.
The statement did not include any financial details but added that SpiceJet would play the role of an operating partner.
"SpiceJet's role as the operating partner for the new airline involves providing essential staff, services, and industry expertise. This collaboration is anticipated to generate synergies between the two carriers, leading to improved cost management, revenue growth, and a strengthened market position within the Indian aviation industry," the statement added.
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