India's SpiceJet seeks investor, but Emirates denies reported interest

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INDIA's budget airline SpiceJet has been approached by Gulf and Asian carriers for a stake buy-out, but Dubai's Emirates flatly denies its interest.

At a Barcelona-based Aircraft Finance & Commercial Aviation (AFCA) conference, Emirates president Tim Clark dismissed reports of its interest in the Indian aviation sector, and in particular the budget carrier, said Reuters.

In separate news from the Oman Tribune, the Indian government has approved 22 foreign direct investment (FDI) proposals worth US$112.5 million rather than foreign institutional investor (FII) funds its considers risky or "hot money".

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