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SpiceJet may become Sun Airways - Sathish - 06-18-2010

SpiceJet is likely to be renamed Sun Airways.

This follows the Sun TV Network's chief, Mr Kalanithi Maran, acquiring a 37.75 per cent stake in the airline last Saturday.

Official sources told Business Line that a communication has been sent to the Government seeking permission for the name change. The communication also seeks permission for making six board-level changes, including inducting Mr Kalanithi Maran and his wife, Ms Kaveri Kalanithi, on the board.

The proposed name change will be the fifth for the airline. In its earliest avatar, it was called M.G. Express, which soon changed to ModiLuft, then to Royal Airways Ltd and finally SpiceJet.

Mr Maran plans to spend close to Rs 1,220 crore for acquiring a controlling interest in SpiceJet if his offer to acquire a further 20 per cent stake through an open offer is fully subscribed.

Source: The Hindu Business Line