Two ‘big investors’ can help better the speed of SpiceJet biz with a Rs 1300 crore lifeline.
The coming week may prove to be a memorable day in the journey of SpiceJet. Ajay Singh’s company may receive a lifeline soon. The airline sources claim, they are on the verge of tying up with new investments from “two big tycoons”.
Out of the two probables, one entry could be seen investing around Rs 1,000-1,200 Cr, whereas the other could also grant in up to Rs 300 Cr.
Past few months have witnessed the airline’s financial struggle due to cash crunch which led to just a part of its fleet being operational. It also resulted in the poor on-time performance of the flights with almost 40 to 45 percent flights delayed on a daily basis.
Last week an aircraft lessor seized an aircraft of SpiceJet during its landing in Dubai over dues. Prior to that, due to the same reason a number of lessors had repossessed planes.
Two big companies interested in investing have shown interest in infusing equity into the airline. As per the sources, the SpiceJet board is going to meet on Monday where the decision on the proposal will be taken to raise fresh capital through issue of equity shares.
