SpiceJet gets over Rs 900 crore funding, focus on cost-cutting measures
The latest installment came recently after its Chairman and Managing Director Ajay Singh infused funds into the airline.
The latest installment came recently after its Chairman and Managing Director Ajay Singh infused funds into the airline.
The decision was taken by the company's Board of Directors on Thursday, marking a significant step in bolstering SpiceJet's financial position.
The in-principle approval from BSE allows SpiceJet to proceed with the process of fund infusion, providing the airline with the necessary financial impetus for its growth.
The low-cost carrier, SpiceJet, will issue convertible warrants to 64 allottees, including Prabhudas Lilladher Advisory Services, LKP Finance, Martina Developers, and Fincon.
The Company’s board will meet on December 11 to consider options to raise fresh capital, according to an exchange filing.
The passenger load factor or occupancy of the airlines remained on the higher side in the range of 70 to 80 per cent.
In reply to a separate question on a flight diversion to Karachi, the ministry said, "Cabin crew did not declare emergency. Post landing check and inspection at Karachi did not reveal fuel leak."
Many Airlines such as SpiceJet and IndiGo charge a fee of Rs 200 if a passenger wants the boarding pass to be issued
A senior SpiceJet official told a news agency that a SpiceJet B737-800 aircraft was operating from Patna to Delhi. On takeoff, during rotation, the cockpit crew suspected a bird hit on one of the engines.
Singh further highlighted the issue of the weakening of Rupees against dollar.