SpiceJet has initiated the process of reviving its grounded fleet with the USD 50 million funds received by the airline from the government’s Emergency Credit Line Guarantee Scheme (ECLGS) and internal cash accruals.
In view of the recent developments in the Indian aviation market, the airline on Thursday categorically stated that it has no plans whatsoever to file for insolvency.
“We want to scotch any speculation that may have arisen due to the filing by another airline,” it said in a statement, clearly referring to Go First’s insolvency.
