SPICEJET

  • SpiceJet can be exempted from an open offer, says MoS Mahesh Sharma January 17, 2015

    Mumbai: Cash-strapped airline SpiceJet is likely to get some respite as Minister of State for Civil Aviation Mahesh Sharma said the airline could be exempted from an open offer. According to sources, the Aviation Ministry is likely to approve the revival plan for the cash-strapped carrier as early as next...
  • SpiceJet's new owners plan to cut fleet, shrink network: Sources January 16, 2015

    Singapore: The prospective owners of low-cost carrier SpiceJet Ltd plan to cut the airline's fleet, shrink its network and return to a "plain vanilla" business model to achieve profitability, two people close to the investors said. Their plans include culling the 15 Bombardier Q400 regional aircraft from the airline's fleet and...
  • Ownership, management control to be transferred to co-founder Ajay Singh: Spicejet January 15, 2015

    New Delhi: As part of its revival plan, cash-strapped carrier SpiceJet on Thursday said that its promoter Kalanithi Maran would transfer his entire stake in the carrier to original founder Ajay Singh as part of plans to revive it. Kalanithi Maran & KAL Airways Pvt Ltd will be transferring ownership and...
  • Rescue plan for SpiceJet seen by end of January: Sources January 9, 2015

    New Delhi: A package to bail out SpiceJet Ltd could be finalised as early as this month, two sources with direct knowledge of the deal told Reuters, raising the prospect of a last-minute rescue for the indebted carrier. SpiceJet, India's second largest budget airline, was forced to ground its fleet briefly...
  • SpiceJet says did not receive any credit from oil companies January 8, 2015

    New Delhi: Beleaguered airline SpiceJet said it has received no credit from oil companies, even as it scotched speculation about having failed to submit any revival plan. "... there was no revival plan due for submission today," SpiceJet's Chief Operating Officer Sanjiv Kapoor said late in a statement. The airline also said...
  • SpiceJet extends flight cancellations till January 31 December 30, 2014

    Chennai: As it awaits the much-needed capital to come out of the persisting financial crunch, air carrier SpiceJet has extended its flight cancellations till next month, affecting at least 329 flights. This follows cancellation of over 1,800 flights, announced earlier this month by the Chennai-based airline,...
  • SpiceJet will have to itself resolve financial problems: Raju December 30, 2014

    New Delhi: Troubled carrier SpiceJet will have to itself resolve its financial problems and the government can only help in the process, Civil Aviation Minister Ashok Gajapathi Raju said on Tuesday. "The government is here to be helpful and the government can be helpful but the SpiceJet problem is its finances...
  • SpiceJet says has cleared employee salaries, fuel dues December 27, 2014

    New Delhi: Troubled carrier SpiceJet Ltd has paid employees' salaries for November and cleared dues of fuel companies as of Friday, its chief operating officer said. Sanjiv Kapoor met senior officials in the Aviation Ministry on Friday along with co-founder Ajay Singh, who sources have said is planning to team up...
  • Cash-strapped airliner SpiceJet submits revival plan to government December 26, 2014

    New Delhi: Troubled budget carrier SpiceJet on Friday submitted a revival plan to the government on the basis of a proposed investment of USD 200 million from founding promoter Ajay Singh and US-based JP Morgan Chase. "It was a constructive meeting," the airline's Chief Operating Officer Sanjiv Kapoor told reporters after...
  • SpiceJet set to send a financial revival plan to the Civil Aviation Ministry December 26, 2014

    The cash strapped airliner SpiceJet has been looking for investors to meet all outstading debts. The company will be submitting a revival plan to the government on Friday. ...
  • Government may cap economy air fares at Rs 20,000 December 25, 2014

    New Delhi: Government is considering to cap economy air fares at Rs 20,000 to check airlines from charging "exorbitant" fares or unleashing predatory pricing, affecting their own financial health. The proposal comes in the backdrop of SpiceJet episode, which had come out with a series of low-fare offers throughout the...
  • SpiceJet presents revival plan to government December 22, 2014

    New Delhi: Struggling budget carrier SpiceJet has presented a revival plan to the government, which will be discussed with oil companies and banks before taking a final decision regarding the airline, official sources said on Monday. The airline's original investor Ajay Singh is in discussion with two US-based private equity...
  • Co-founder of SpiceJet seeks time to finalise funding plans December 22, 2014

    New Delhi: The entrepreneur behind a high-profile effort to rescue Indian carrier SpiceJet has asked for more time to finalise funding plans, a government official with direct knowledge of the matter said on Monday. Ajay Singh, who helped set up the low-cost airline in 2005, had been expected to submit a...
  • SpiceJet's dues grew to Rs 1,230 crore in 18 days till December 10: Government December 22, 2014

    New Delhi: Troubled budget carrier SpiceJet's dues to foreign and Indian vendors, airport operators and oil companies grew swiftly from Rs 990 crore to Rs 1,230 crore in a matter of 18 days till December 10, Lok Sabha was informed on Monday. The airline's dues to foreign vendors, including lessors of...
  • Maran brothers' SpiceJet on the brink of collapse, change of guard likely soon December 21, 2014

    New Delhi: Beleaguered SpiceJet could see a change of guard if Indian and foreign investors, who are now carrying out due diligence of the cash-strapped airline, are convinced about investing over Rs 1,200 crore and picking up considerable stake in it, industry sources said on Sunday. After being on the brink...
  • Cash-strapped SpiceJet resumes normal operations December 20, 2014

    New Delhi: The operations of the budget carrier SpiceJet, which were hit severely last week due to the non-payment of dues to the oil companies and regulatory issues, returned to normal on Saturday with the airline operating 124 flights till Saturday afternoon. "Today's operations: SpiceJet as of 3:15 PM operated 124...
  • AAI extends credit facility to SpiceJet till December December 20, 2014

    New Delhi: Cash-strapped SpiceJet's troubles seem to be far from over as the AAI has agreed to extend credit facility to the airline only for 15 days till December 31. "The relief has been given only till December. If the airline does not want to be asked for a payment before...
  • SpiceJet fallout: Ticket prices shoot up by 50 per cent December 19, 2014

    Thousands of passengers were stranded as the SpiceJet airline cancelled many of its flights on Wednesday morning. Ten passengers have also filed a complaint against the airline in New Delhi. ...
  • SpiceJet hits ground, spoils year end plans for thousands of people December 18, 2014

    New Delhi: Shweta, a housewife from New Delhi is terribly disappointed. Her five year old dream of spending the year end with husband and children in Goa has hit a huge roadblock. She had booked the tickets three months ago on SpiceJet. Now the airline is in deep trouble and...
  • Angry SpiceJet passengers lose their cool December 18, 2014

    Angry SpiceJet passengers lose their cool after waiting since 4 AM on Wednesday. All SpiceJet flights remained grounded for the first half of the day. "It is very irritating. They are not giving us any alternative," said a passenger. ...
  • Cash-strapped SpiceJet resumes operations December 17, 2014

    New Delhi: The cash-strapped airline SpiceJet resumed operations on Wednesday after facing passengers' anger for mass cancellation of flights over non-payment of fuel dues. SpiceJet Chief Operating Officer Sanjiv Kapoor has said that the flights will resume operations by Wednesday evening. "Flights scheduled to depart on or after 4 PM today...
  • Oil Ministry asks SpiceJet to submit 10-day plan for revival, airline to start operation by 4 PM December 17, 2014

    New Delhi: The cash-strapped SpiceJet has been asked by the Oil Ministry to submit a 10-day plan for revival of the airline, said sources on Wednesday. In a meeting held on Tuesday, the ministry had agreed to grant interim relief to SpiceJet and said that they can pay some money...
  • SpiceJet flights will resume operations by 4 PM, says COO Sanjiv Kapoor December 17, 2014

    New Delhi: Facing passenger's anger after several of its flights were cancelled over non-payment of fuel dues, SpiceJet Chief Operating Officer Sanjiv Kapoor has said that the flights will resume operations by Wednesday evening. "Flights scheduled to depart on or after 4 PM today will operate. We apologise again for the...
  • Will supply fuel only on immediate payment: Oil companies to Spicejet December 17, 2014

    New Delhi: With troubled Spicejet having grounded its flights, oil companies have made it clear the budget carrier will get fuel only on immediate payments, as the airline is on 'cash and carry' mode. The carrier had till Tuesday bought some jet fuel but it has...
  • More trouble for SpiceJet, airline remains grounded for 2nd day as oil companies stop fuel supply: Sources December 17, 2014

    New Delhi: In more trouble for the cash-strapped airline SpiceJet, the operations remain grounded for the second day on Wednesday as oil companies have stopped fuel supply, the sources said. "Not even a single flight has taken off till this morning due to fuel supply issue with the oil companies," sources...
  • Breather for Spicejet, government may ask banks to lend upto Rs 600 crore to the airlines December 17, 2014

    New Delhi: Coming to the rescue of the crisis-ridden budget airline SpiceJet, the Civil Aviation Ministry said it may request Indian banks/financial institutions to extend loans of upto Rs 600 crore to the airline as part of measures to keep the carrier functional. The Civil Aviation Ministry has said that it...
  • SpiceJet seeks government help; request to be put up before PMO: MoS Civil Aviation December 15, 2014

    New Delhi: Suffering a total liability of about Rs 2,000 crore, beleaguered no-frill carrier SpiceJet on Monday approached the government and sought urgent financial help to run its daily operations. Top officials of the airline met Minister of State for Civil Aviation Mahesh Sharma and made the plea for "urgent relief". The...
  • Cartoon of the day: SpiceJet stops advance bookings after DGCA's stern warning December 10, 2014

    Cash-strapped SpiceJet has cancelled over 1,800 flights across the country for December, in signs of mounting troubles for the budget airline. DGCA has asked the airline to stop taking bookings of more than one month in advance. ...
  • SpiceJet cancels flights, stops advance booking after DGCA warning December 9, 2014

    New Delhi: SpiceJet has cancelled hundreds of tickets and stopped advance bookings after being given a stern warning by the aviation regulator. Infact, the Directorate General of Civil Aviation (DGCA) has given SpiceJet time till December 15 to pay off all the dues. Anjum Khan was supposed to be at...
  • Hope SpiceJet will come out of financial turbulence: Aviation Minister December 9, 2014

    In more trouble for SpiceJet, the cash-strapped airline has cancelled over 1,800 flights across the country for the current month. The DGCA had asked the airline to stop taking bookings of more than a month in advance. Aviation Minister Ashok Gajapati Raju said, "We hope SpiceJet will fly out of...