SpiceJet's controlling shareholder pledges shares
SpiceJet announced KAL Airways Pvt Ltd, the controlling shareholder in the Indian airline, has pledged 38.43% of its holding in the Indian low-cost carrier. KAL Airways has pledged 60.15 million of its shares, 14.84% of the total outstanding share capital in the company. Of this, 31.2 million shares were pledged on 01-Apr-2011. Shares in SpiceJet rose 1.7% yesterday, while Kingfisher Airlines shares were up 0.7% and Jet Airways shares fell 0.8%.
