Oops...Kingfisher Won't Be Buying SpiceJet

SpiceJet, which can now best be described as flailing, has rejected Kingfisher's offer to purchase the carrier. Instead, asset management firm WL Ross & Co. will inject $80 million into the airline to keep it afloat. The firm says they believe oil prices will drop below $100 in the coming year, leaving SpiceJet will strong financial footing to compete.