SpiceJet deploys Rs 400 crore to revive 25 grounded planes

The announcement comes a day after competitor Go First filed for voluntary insolvency resolution proceedings and decided to cancel flights for three days starting May 3.

Published: 04th May 2023 08:31 AM  |   Last Updated: 04th May 2023 08:31 AM   |  A+A A-

Spicejet

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By Express News Service

NEW DELHI:  Budget carrier SpiceJet on Wednesday said it is working to revive 25 grounded planes.
For this purpose the company has mobilised Rs 400 crore so far. The announcement comes a day after competitor Go First filed for voluntary insolvency resolution proceedings and decided to cancel flights for three days starting May 3.

SpiceJet, in a statement, said funds for the revival of the 25 aircraft will be drawn from the government’s Emergency Credit Line Guarantee Scheme (ECLGS) and better cash accruals. The airline has about 80 planes in its fleet and is looking to revive 25 grounded Boeing 737 and Q400 aircraft. Ajay Singh, Chairman and Managing Director of SpiceJet, said,“We are meticulously working towards return to service of our grounded fleet back in the air soon.”

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