SPICEJET

  • SpiceJet clears plane rental dues, pays $10 million to lessors 21 hours 31 minutes ago

    New Delhi: Having settled its dues with the tax authorities and the public sector oil marketing firms, budget carrier SpiceJet on Monday cleared its aircraft rentals dues by paying USD 10 million to some of its lessors. SpiceJet paid these dues after the new owner Ajay Singh infused a fund of...
  • SpiceJet's new owner infuses Rs 500 crore to revive the airline 5 days ago

    New Delhi: Budget carrier SpiceJet has finally received the much-need funding, with the new owner Ajay Singh infusing Rs 500 crore in the airline as part of his Rs 1,500 crore investment plan to revive it. Singh paid Rs 500 crore to SpiceJet on Wednesday, sources said, adding that two more...
  • SpiceJet launches low-fare offer; one lakh seats on the block 1 week ago

    New Delhi: Budget carrier SpiceJet on Tuesday put one lakh seats up for grabs on both its domestic and international routes as it rolled out another discount sale offer with tickets priced as low as Rs 1,699 for travel within the country. The latest offer -- of all-inclusive fares as low...
  • Competition Commission clears SpiceJet deal with Ajay Singh February 19, 2015

    New Delhi: Fair trade watchdog Competition Commission on Thursday cleared Ajay Singh's proposal to acquire a majority stake in cash-strapped SpiceJet, moving closer to the much-needed recapitalisation of the budget carrier. With clearance from the Competition Commission of India (CCI), the low-cost carrier's original promoter is closer to taking the management...
  • Competition Commission of India looking into SpiceJet deal February 17, 2015

    New Delhi: The Competition Commission is looking into SpiceJet's proposed deal with its original promoter Ajay Singh and a decision is yet to be finalised. Amid turbulent times, the carrier's board has approved a deal that would see change of ownership as well as infusion of fresh funds. The proposed...
  • SpiceJet offers discount scheme starting Rs 1,899 February 7, 2015

    New Delhi: Budget passenger carrier SpiceJet on Saturday launched its special sales offer of one-way booking fares starting at Rs 1,899 all inclusive. This is the third such discount offer by the company which had earlier launched its "SpiceJet Super Sale" and "We Love You Valentine's Sale" offers. According to the...
  • SpiceJet plans to raise Rs 1,500 crore; Marans exit Board January 30, 2015

    New Delhi: Low cost carrier SpiceJet, which is going through an ownership change, plans to raise Rs 1,500 crore by way of issuing securities and allotting non-convertible preference shares to Marans, its promoters, who will be exiting the company. The Board of SpiceJet, in its meeting on Thursday, has approved the...
  • SpiceJet joins low-fare race January 28, 2015

    New Delhi: Budget carrier SpiceJet on Wednesday joined the low-fare race in the domestic market putting on the block half-a-million seats with ticket prices starting at Rs 1,499, days after the government gave a go-ahead to its revival plan under the new promoters. The bookings under the three-day "Super Sale" offer...
  • DGCA lifts curb on advance bookings, Centre clears SpiceJet plan January 22, 2015

    New Delhi: In a major relief to the budget carrier SpiceJet, DGCA on Thursday allowed the airline to accept advance bookings beyond March 31 even as the government gave initial nod to its revival plan, which has now been referred to market regulator Sebi to examine whether the funding by...
  • 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...