No question of filing for insolvency, rumours completely baseless: SpiceJet’s Ajay Singh

MUMBAI – SpiceJet Ltd has clarified and assured investors that it has no plans to file for insolvency even as it faces a financial crunch. “There is absolutely no question of filing for insolvency. Any rumours regarding the same is completely baseless. We are focussed firmly on reviving our grounded fleet and getting more and more planes back into the air,” Ajay Singh, Chairman and Managing Director, was quoted as saying in the release.

The assurances did little to convince Dalal Street, as the stock was trading 1% lower on the BSE. The statement comes in the backdrop of Go First Airlines filing for voluntary insolvency resolution process with the National Company Law Tribunal