NEW DELHI: SpiceJet is now looking at a lifeline with its crucial fundraising exercise learnt to be finding favour with investors. The airline’s Rs 3,000-crore QIP has been oversubscribed, say sources. The likely investors include institutional funds like Tata Mutual Fund, Bandhan Bank, Discovery Fund, Plutus, Jupiter Fund Management and Think Investments.Family offices of ace…
NEW DELHI: SpiceJet is now looking at a lifeline with its crucial fundraising exercise learnt to be finding favour with investors. The airline’s Rs 3,000-crore qualified institutional placement (QIP) has been oversubscribed, say sources. The likely investors include institutional funds like Tata Mutual Fund, Bandhan Bank, Discovery Fund, Plutus, Jupiter Fund Management and Think Investments.Family…
NEW DELHI: Struggling-to-survive SpiceJet has admitted not paying about Rs 220 crore TDS that was deducted from employees’ pay between April 2020 and Aug 2023 to tax authorities and over Rs 135.3 crore PF to staffers in the same period. The airline’s preliminary placement document (PPD) filed with BSE says about Rs 72 crore TDS…
NEW DELHI: SpiceJet on Saturday cancelled its flight from Delhi to Darbhanga, triggering protests by passengers at IGI airport. A video of passengers protesting and shouting slogans at the airport was shared on social media. In a statement, an airline spokesperson said its flight SG 495 from Delhi to Darbhanga was cancelled due to unforeseen…
NEW DELHI: Markets regulator Sebi has exempted Spice Healthcare Pvt Ltd from making an open offer to SpiceJet shareholders in relation to acquisition of additional shares in the airline. On conversion of warrants that were issued to it, Spice Healthcare, a promoter group entity, would be acquiring an additional 13,14,08,514 equity shares in the airline….
NEW DELHI: The Delhi high court on Wednesday upheld an earlier ruling directing SpiceJet Airlines to ground three of its aircraft engines due to payment defaults to French engine lessors. The court rejected SpiceJet’s appeal against the order, which required the airline to return the engines to the lessors, Team France 01 SAS and Sunbird…
NEW DELHI: SpiceJet promoter and chairman Ajay Singh may offload more than 10 per cent stake in the struggling carrier as part of the latest funding round that is expected to close by the end of September, according to sources. The budget carrier — which is grappling with multiple woes, including financial challenges, legal battles…
NEW DELHI: In a major relief to struggling-to-survive SpiceJet, one of its biggest aircraft lessors Carlyle has agreed to convert upto $50 million of its dues into equity. In a regulatory filing, the airline and Carlyle Aviation Management Ltd (CAML) said they will restructure lease obligations at a rate of Rs 100 per share of…
NEW DELHI: SpiceJet, which is trying to raise funds, on Wednesday reported a profit of Rs 150 crore for the quarter ending June 2024, down about 26% from Rs 204.5 crore in same quarter last fiscal. The airline’s scrip closed 2.5% lower on BSE Wednesday at Rs 55.03, when the broader market was up 0.19%….
MUMBAI: Mumbai airport and SpiceJet had a run in on social media on Monday over the latter’s pending dues. It started when the airport tweeted a passenger advisory stating that SpiceJet’s flight operations out of Mumbai will be “temporarily disrupted” from Aug 13 midnight. Mumbai airport posted the tweet on its official X handle “@CSMIA_Official”,…
