SpiceJet refutes claims it will be the next airline bankruptcy
India budget carrier SpiceJet hit back at reports it could be the next airline bankruptcy.
In a move to reassure investors and customers, SpiceJet assured there are no plans for insolvency proceedings.
The airline has been under scrutiny following the bankruptcy filing of Go First.
Spicejet has been under financial pressure for many months.
“There is absolutely no question of filing for insolvency. Any rumours are completely baseless,” it said.
SpiceJet has had to use a $50 million government loan.
At the same time aircraft lessors have petitioned the government to deregister three SpiceJet aircraft to enable them to repossess.
Several SpiceJet aircraft are grounded due to various technical issues.
The airline says it remains in talks with potential investors to raise cash.
Aircraft lessor Carlyle Aviation Partner recently acquired a 7.5% stake in negotiations seeking unpaid lease fees.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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