SpiceJet on Tuesday said it has cleared all outstanding dues and will no longer operate on the “cash and carry” basis at the Airports Authority of India (AAI) run airports across the country by reverting to advanced payments for flight operations.
“SpiceJet’s ability to clear the pending dues reflects the airline’s improved cash flow in recent times. In another big boost for the airline, AAI will release SpiceJet’s INR 50 crore bank guarantee following the airline clearing all its principal dues. This will result in additional liquidity for the airline,” an airline spokesperson said.
The airline said SpiceJet has flown with the highest passenger load factor for a record seven years and has recorded the highest occupancy among Indian domestic airlines since April 2015. “The airline also holds the envious distinction of having flown with a Passenger Load Factor (PLF) of more than 90% for a record 58 consecutive months,” the spokesperson said.
