Besides, it will also request the Finance Ministry to permit external commercial borrowing (ECB) for working capital as special dispensation.
The civil aviation ministry pushed for a bailout of SpiceJet on Tuesday, calling on banks to give the carrier up to Rs 600 crore.
Beleaguered SpiceJet tonight got a breather with indications that Airports Authority of India would not press for immediate clearing of Rs 200 crore dues.
Google's shopping festival: Holiday sellers like Thomas Cook, Cox & Kings, Kuoni offer big discounts
Makemytrip is offering discounts of as much as Rs 21,000 on travel packages. Yatra.com has offered packages up to Rs 30,000 cheaper.
“The promoters are committed to the airline and they are very much interested. We have a number of solid financial plans,” SpiceJet COO Sanjiv Kapoor said.
Daily Delhi-Mumbai, Mumbai-Bangalore & Delhi-Bangalore flights total less than 100 now. The travel industry is expecting a sharp jump in that number.
Some analysts reckon that spot fares are indeed expected to soften as SpiceJet will increasingly compete in this space in the coming days and months.
Key international carriers like British Airways and Lufthansa are also reporting an increase in occupancy in the business class cabins of their aircraft flying to India.
A top executive at the salt-to-software conglomerate said he expects the airline to undergo proving flights—usually the final stage before a flying license is given.
ICRA upgraded Jet Airways to BB or stable rating from ‘C’ which meant that the company was under the risk of defaulting on its loan payments.
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