SpiceJet hives off cargo & logistics biz into new entity

Mumbai, April 3 SpiceJet Ltd on Monday said it has hived off its cargo and logistics business SpiceXpress into a separate entity — SpiceXpress and Logistics Pvt Ltd, from April 1. The move results in a one-time gain of Rs...

PTI

Updated At : 12:46 PM Apr 04, 2023 IST

Mumbai, April 3

SpiceJet Ltd on Monday said it has hived off its cargo and logistics business SpiceXpress into a separate entity — SpiceXpress and Logistics Pvt Ltd, from April 1.

The move results in a one-time gain of Rs 2,555.77 crore for SpiceJet, substantially reducing its negative net worth, the company said.

It also paves the way for SpiceXpress to raise funds independently, SpiceJet said.

The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore (now in Pakistan). It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising five eminent persons as trustees.

The Tribune, the largest selling English daily in North India, publishes news and views without any bias or prejudice of any kind. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the newspaper. It is an independent newspaper in the real sense of the term.

The Tribune has two sister publications, Punjabi Tribune (in Punjabi) and Dainik Tribune (in Hindi).

Remembering Sardar Dyal Singh Majithia

Designed and developed by : SORTD

Suggested Articles