Mumbai-based entrepreneurs Harihara and Preeti Mahapatra are set to acquire a 19% stake in SpiceJet, investing Rs 1,100 crore in the financially strained airline. The funding, part of SpiceJet’s larger capital-raising plan of Rs 2,254 crore, aims to address debt obligations, expand the operational fleet, and clear outstanding payments. SpiceJet has expressed interest in acquiring the grounded Go First airline. The move follows a strategic decision by the airline’s board to strengthen its financial position and drive growth. Ajay Singh, Chairman & MD of SpiceJet, highlighted the importance of fresh capital to fortify the airline’s financial strength.