SpiceJet Feels The Heat

Indian budget carrier SpiceJet is near crisis following the departure of tens of pilots and a damning audit.

Although the carrier has halved its quarterly loss on a year-to-year basis, auditors have raised serious concerns about its ability to service liabilities totalling almost $250m.

“These conditions... indicate the existence of a material uncertainty that may cast significant doubt about the company's ability to continue as a going concern,” wrote S R Batliboi & Associated.

Indian media has reported that about 40 pilots have quit SpiceJet in the past six months due to its uncertain future.

TAGS: Asia
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