Articles for tag: Aims, Aircraft, Battling, Challenges, Dire, Facing, Financial, Fleet, Legal, operational, Revival, SpiceJet, Struggles

September 23, 2024

Facing dire financial struggles, SpiceJet aims for a fleet revival to 100 aircraft by 2026, battling legal and operational challenges.

SpiceJet, the domestic airline based in Gurugram, aims to expand its fleet to 100 aircraft by 2026, following a successful fundraising of Rs 3,000 crore through a qualified institutional placement. Chairman Ajay Singh noted that past challenges, including the grounding of Boeing 737 Max planes and the Covid-19 pandemic, have impacted the airline’s performance. Although ...

September 19, 2024

Market News

Business

Amid financial turmoil, SpiceJet seeks to raise Rs 3,000 crore, battling significant dues and investor skepticism.

SpiceJet, facing significant financial challenges with dues over Rs 601 crore, has successfully attracted interest for its Rs 3,000 crore share sale to qualified institutional buyers. The placement has reportedly been oversubscribed, drawing attention from various investors, including several family offices. The funds raised will be crucial for the airline to settle outstanding statutory liabilities, ...