The Chief Executive Officer of SpiceJet, Neil Mills has brushed off suggestions that the airline is in talks with foreign players or a possible stake sale.

Mills said that India's second-largest low-fare airline by market share is not looking at the option of disinvestment at this time. It also said that it has the option to raise funds either through foreign investment or through equity.

He was speaking at the company's Annual General Meeting today in Chennai when he pointed out that the airline if not foreign any cash flow crisis and is not desperately looking to raise capital. He clarified that SpiceJet has not held formal talks with any foreign airlines for a possible stake sale.

Mills said that the management of the company will consider diluting its stake only if a good deal appears. The decision to allow foreign aviation companies to start investing in India's airlines comes as a relief to the cash-strapped firms in the country like Kingfisher and others. It recommends allowing foreign airlines to buy up to 49 per cent stake in Indian carriers.