SpiceJet board considering raising fresh capital by issuing equity shares

SpiceJet, which has been grappling with a cash crunch for several quarters, announced on Thursday that its board is considering options for raising fresh capital through the issuance of equity or convertible securities on a preferential basis.

Last month, SpiceJet informed the Delhi High Court (HC) that it was “struggling to stay afloat” after the court mandated the airline to make a payment to its former owner, Kalanithi Maran, for outstanding dues.

The airline argued in court that compelling it to make a cash payment would adversely impact the involved parties.