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Cash-strapped SpiceJet actively seeking external funding
Struggling SpiceJet has finally acknowledged it is seeking external funding including from other airlines.
SpiceJet founder Ajay Singh confirmed it is on the lookout for external funding.
“We are doing it by way of the government-supported scheme ECLGS, getting new aircraft from Boeing and therefore through the SLB (sale and lease back) process,” Singh told local media.
“We are exploring all fundraising options.“
Singh clarified that includes investment from other airlines.
SpiceJet ‘would do everything to ensure it remains a strong and vibrant player.’
Its financial struggles are well documented.
Regulator the Directorate General of Civil Aviation (DGCA) limited the airline’s operations to 50% until it has ‘sufficient technical support and financial resources to safely operate’ a full schedule.
Ray Monty
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