Kalanithi Maran likely SpiceJet Chairman

Mumbai : SUN TV Group boss Kalanithi Maran is expected to take over as the chairman of SpiceJet by next week.

An announcement to this effect is likely to be made in a board meeting in Delhi on Monday, media reports said on Saturday.

Reconstitution of the company’s board has become inevitable after SUN TV acquired 38.7 per cent shares in the aviation firm in June, will be one of the main agendas in the board meeting.

SpiceJet, which has a market share of 12.6 per cent in September, had recently placed an order of 30 (15 firm and 15 optional) Bombardier Q400 turboprops worth 900 million Dollars, as part of a new strategy to capture the growing business in tier-II and tier-III cities.

The airline has a cash reserve of Rs 700 crore.

It recently launched its international operations with flights to Colombo and Kathmandu and plans to fly to other countries in the SAARC region as well.

The airliner has ordered another 30 Boeing 737-800s for fleet expansion, according to Economic Times.