Cash Strapped SpiceJet Awaits Help

The Airports Authority of India is today (January 12) considering whether to extend a credit facility to SpiceJet, according to local media reports.

The Airports Authority of India is today (January 12) considering whether to extend a credit facility to SpiceJet, according to local media reports.

The airline is allegedly defaulting on payments to airports and other business partners and Delhi International Airport has reportedly cashed the airline’s bank guarantee for non-payment of dues.

Leasing company, BOC Aviation, has called for SpiceJet and its investors to finalise an equity infusion within weeks to enable the carrier to survive.

In December, the airline was forced to suspend operations over payments to fuel providers.

TAGS: Asia
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