American private equity firm WL Ross & Company, promoted by billionaire Wilbur Ross, agreed to pump in Rs. 345 crore ($ 80 million) to prop up the budget airline, …………………, which was facing turbulence due to soaring fuel costs.

WL Ross & Company, founded by Wilbur Ross, invested Rs. 345 crore (approximately $80 million) in SpiceJet when the budget airline was struggling with high fuel costs. This was a crucial financial injection during a turbulent period for the airline. Kingfisher Airlines, Jet Airways, and Air India were not the recipients of this specific investment.