Indian low-cost airline, SpiceJet has reported a third consecutive quarterly loss turning its net worth negative for the first time since the company was acquired by Sun Group.

The company's net worth stood at negative Rs 23.89 crore as on December 31, 2011 and this has seriously affected the company's ability to raise funds form the market. SpiceJet's auditors said that company's accumulated losses of Rs 1,077.81 crore has erased its net worth.

Indian Prime Minister Manmohan Singh is expected to meet al the heads of the domestic airline companies on Saturday.

Even as the agenda of the proposed meeting is not known, it is expected that Dr. Singh will discuss ways to assist the cash-strapped airline companies in the country and address other concerns in the aviation industry.

Mumbai, Sep 3 - A Spicejet flight made an emergency landing at the Chhatrapati Shivaji International Airport (CSIA) here Saturday following some technical problems. All passengers are safe, an official said.

There were 137 passengers on board flight SG-344 on its way here from Bangalore.

The flight made a turnaround eight minutes before it reported a technical hitch and a full emergency was declared at 12.15 p. m.

It landed safely at 12.21 p. m. and the emergency was relaxed at 12.28 p. m., the airport official said.

As the Economic Times exposed that a private equity firm TPG Capital has been trying to buy a minority stake of the Carrier SpiceJet, the shares of SpiceJet lifted by almost 5%.

SpiceJet’s shares were up by 2.94% at Rs 22.75 in a choppy Mumbai market, at 9:27 am.

It later raised by 3.2% at Rs 22.80 in a choppy Mumbai market, at 11:13 am. Its share price has witnessed a 52-week high of Rs 92.40 and a low of Rs 20, on BSE.

Technical analyst Pradeep Surekha has maintained 'hold' rating on Spicejet Limited stock with a stop loss of Rs 43.

According to analyst, the investors can exit the stock on rally to around 52-53.

The stock of the company, on February 08, closed at Rs 46.25 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 97.45 and a low of Rs 48.65 on BSE.

Current EPS & P/E ratio stood at 5.58 and 7.90 respectively.

Technical analyst Hitendra Vasudeo has maintained 'buy' rating on Spicejet Limited stock with targets of Rs 83.20 and 88.50.

According to analyst, the investors can purchase the stock with a stop loss of Rs 76.60.

The stock of the company, on December 21, closed at Rs 81.15 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 97.45 and a low of Rs 50.50 on BSE.

Current EPS & P/E ratio stood at 3.25 and 25.44 respectively.

India's SpiceJet has place an order of 15 Bombardier Q400 NextGen regional aircraft worth $446 million to the Canadian company, Bombardier.

In a declaration Bombardier said that Gurgaon-based SpiceJet also has a choice to get hold of an additional 15 of the turboprop airliners.

PJSC, a Dubai-based investment house has sold off 2.21 crore shares, representing 6.89% stake to SpiceJet at Rs 53.55 per share, amounting to a total of Rs 118.54 crore on Tuesday. This information has been found out according to the data available on the Bombay Stock Exchange.

In February, nearly 14% of the stake had been offloaded by Istithmar to the airline for Rs 164 crore. The company has informed on Monday that it had got hold of almost 22.14 million shares through foreign convertible currency bonds valuing nearly Rs 55.34 crore.

On Friday, the acquisition of Spicejet was completed by the Chief Executive of Sun TV, Kalanithi Maran, son of Dayanidhi Maran.

Kalanithi bought 37 per cent stake in the low-cost no-frill airlines and entered into the field of aviation.

The acquisition will be done by the holding company of Maran, KAL Airways, in individual capacity. In this the deal, the owning of Boeing's 787 Dreamliner is also included.

Stock market analyst Anil Singhvi is of the view that investors can buy Spicejet Ltd stock with intra-day target of Rs 63.

According to analyst, the investors can buy the stock with stop loss of Rs 58.

The shares of the company, on June 08, closed at Rs 59.40 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 64.75 and a low of Rs 16.50 on BSE.

Current EPS & P/E ratio stood at 2.04 and 29.27 respectively.

SpiceJet said on Tuesday that it is looking forward to raise $75 million. This, said the budget carrier, would be done by selling its stake in the markets of India as well as overseas.

However, no timeline was announced by the chief executive of the company, who was making the announcement.

SpiceJet has completed five years of operations in a successful manner.

Moreover, the low-cost airline said that it is eyeing higher growth in the coming years.

In a declaration, chief executive Sanjay Aggarwal stated that they have been capable of sustaining their development and the future looks positive in spite of the challenges in the business environment.

The airline holds more than 12 per cent market share and runs 131 flights on a daily basis to 19 destinations across India.

At present, the administration is looking for a proposal from SpiceJet and another budget carrier Indigo to fly out of the country.

The low-fare private airline firm, Spicejet has announced that the airline is going to introduce the Kolkata-Agartala flight next month. This has been a part of company’s plans to expand its presence in the north east of the country. This has been announced by the Chief Commercial Officer of the company Mr. Samyukth Sridharan. The airline has just over 12% of the market share in the Indian aviation industry.

SpiceJet is India's most preferred airline, offering the lowest air fares with the highest consumer value. SpiceJet was offered Rs 7 billion for 51 percent stake by Kalanithi Maran, promoter of Sun TV but the proposal was refused by Spicejet shareholders.

There was a slight fall to Rs. 57.55 in Spicejet stock on Monday, during trading hours.

Shareholders claims that Maran is offering the discounted price of Rs 55 per share for the stake buy.

The investment arm of the emirate of Dubai, Istithmar has sold most of its 13.4% stake in the domestic low cost carrier SpiceJet. This move is most likely fallout of the financial crisis faced by the emirate during recent months.

On Friday, Istithmar sold the stake for Rs 170 crore in two block deals at Rs 53.75 per share. About 66% of this stake was purchased by domestic mutual funds and the remaining by a foreign Institutional investor.

The first quarter proved fruitful for the recession-hit low cost domestic airline SpiceJet, apparently due to a shift in passenger traffic towards low-cost economy airlines.

High passenger turnout helped the domestic carrier to get out of trouble, and report a net profit of Rs 26.34 crore in the first quarter ended June 30, 2009.

SpiceJet Chief Executive Officer, Sanjay Aggarwal said: "We had a great quarter given the challenges the industry continues to face. We saw an increased acceptance of our service by the consumers. This helped in absorbing the additional