In a regulatory filing, the company said that its board at its meeting held on May 7, deliberated the possibility of raising funds for the company through a qualified institutions placement (QIP).

"The Board decided that the Company should continue to explore all options to increase its liquidity, including by way of a QIP," it said.

In January, the airline had shelved plans to raise funds up to Rs 4,000 crore through a QIP and instead, opted to raise money through sale and lease back (SLB) transactions and other alternative options.