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Hongkong based firm eyes investment opportunities in Indian airline companies 

Bravia's senior management has invested $5 billion in aviation, transportation, shipping and logistics industries in the past two decades

   Friday 02-Nov-2012  | Mumbai

Hong Kong-based investment firm Bravia Capital is eyeing investment opportunities in Indian airline companies despite a negative sentiment pervading the aviation market.

The firm that has made investments in air transport and logistics companies in emerging economies said Indian airline companies have approached it.

"I think all the airlines are talking to strategic partners and to funds like us about raising capital," Hal Hayward, managing director, Bravia Capital, told ET. "I am here. We've been watching the Indian market for quite some time. We have been talking to the airlines and we have a pretty consistent interest in the market.

We are looking for opportunity and feel that there would be an investment definitely," Hayward added. There has been speculation in the market that Bravia might invest in Kalanithi Maran-promoted budget airline SpiceJet as per an ET report.

Earlier reports suggested that debt laden Kingfisher Airlines may even be in the reckoning. "I will never comment on any specifics," Hayward said on being asked if there a deal brewing between Bravia and SpiceJet for $200 million.

SpiceJet needs funding for purchasing aircraft. The airline had said earlier that it is looking at a possibility of booking more aircraft orders either with Boeing or Airbus. "SpiceJet of course would raise funds as it is adding new aircraft. I'm sure it would be looking for money.

And it needs equity in order to fund those aircraft.

The banks might provide 80% of the funds but the remaining 20% have to be raised elsewhere. The question then is from where it is going to get it," Hayward said. On the sidelines of the recent CAPA summit, when asked about the term sheets for fund-raising, SpiceJet CEO Neil Mills said, "I have not seen the term sheets that I want to see. Over the next couple of months if the right one comes across then we will talk about it."

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