SpiceJet surges; airline denies report of Kuwait interest

SpiceJet shares surged 8.1 per cent even after the airline denied a news report that Kuwait Airways was looking to pick up a nearly 25 per cent stake in the budget airline.

"The news report suggesting that a stake sale in SpiceJet is being considered to induct Kuwait Airways as a strategic partner is totally untrue and without any substance," SpiceJet said in an emailed statement.

SpiceJet had said in January it received some interest from potential investors, but it would be premature to discuss the possibility of any concrete investments.

Copyright: Thomson Reuters 2013