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 DGCA DG has advised the team to thoroughly examine cabins, cockpits, and the passenger area of aircrafts to check for potential safety issues including loose fittings on aircraft seats, food trays, windows, and lavatories.
Sources said the aircraft took from Mumbai at around 5 p.m. and was supposed to land at Kazi Nazrul Islam Airport at Andal at around 7.30 p.m.
Singh submitted that he could take the court through the calculations as per the arbitral award from the pleadings itself in support of the arguments.
In a tweet, the Airport Authority of India (AAI) said the ILS will help in precise landing of aircraft at the airport. It will also positively impact flight regularity during bad weather and low visibility conditions. The overall cost of the project is approximately Rs 15 crore.
The airline reported a net loss of Rs 998.3 crore in FY2021.
