Cash-strapped SpiceJet on Tuesday confirmed to the BSE that it has expressed interest in purchasing Go First from the insolvent airline’s resolution professional (RP), Shailendra Ajmera.
SpiceJet itself has been facing a cash crunch for the past several quarters. It is also dealing with multiple court cases regarding money owed to former owner Kalanithi Maran, financial services firm Credit Suisse, aircraft lessors and engine lessors.
Meanwhile, its board had on December 12, approved the raising of Rs 2,241.5 crore in fresh capital from 63 entities, including financial institutions, foreign institutional investors, high-net-worth individuals, and private investors, through the issuance of equity shares and warrants.
