- Saturday, March 01, 2025
The airline quelled fears of a spillover from Go First’s voluntary admission of bankruptcy, according to one report.
By: Shubham Ghosh
India’s low-cost carrier SpiceJet on Thursday (11) ruled out any plan to file for insolvency, eliminating fears of a spillover from rival Go First’s voluntary admission of bankruptcy, said a Reuters report.
In a statement, the airline said, “We want to scotch any speculation that may have arisen due to the filing by another airline.”
It also added that it is in talks with investors to raise funds.
The carrier, which is based in Gurugram, said it has started reviving 25 of its grounded fleet using its own funds and a line of credit worth $50 million (£39.9 million) through an Indian government scheme that it secured on Thursday, the report added.
SpiceJet’s lessors sought to de-register at least four aircraft recently, according to filings on the website of India’s aviation regulator.
