Shares of
SpiceJet rose as much as 3 percent on Wednesday after the f
inancially troubled Indian carrier said it is open to investment from external parties, including other airlines, as it seeks to raise Rs 2,000 crore.At 9:23 am, shares of the airline were trading 1.8 percent higher at Rs 47.1 on the BSE.
As per reports, the budget carrier is also tapping a government programme that extends emergency credit lines to businesses hit by the pandemic, said SpiceJet Chairman Ajay Singh. The company will also raise capital via the sale and leaseback of at least seven additional Boeing Co. 737 Max aircraft this year, he added.
Lately, SpiceJet has faced challenges especially after many flights suffered from technical snags. Subsequently, the airline has been on the aviation regulator’s radar. Singh added that the airline is doing its utmost to work through the stress that it has faced and the strategy is to raise resources, reports said.
He told CNBC-TV18 that flying at 50 percent capacity has not hit the airline's schedule, "This was the lean season and most airlines including SpiceJet, were flying well below the 50 percent approved schedule. So there has been absolutely no impact on schedule and as the season picks up the schedule will increase." Besides, the board of private carrier SpiceJet will be meeting on August 31 to consider and approve the financial results of Q4 FY22 and Q1 FY23.
On May 27, the company had said that a ransomware attack on IT systems had affected its audit process, due to which, the results had been delayed.
First Published: Aug 24, 2022 10:07 AM IST
