NEW DELHI: Struggling-to-survive SpiceJet has finally got a fresh lifeline of over Rs 2,250 crore from new investors such as Elara India Opportunities Fund, Aries Opportunities Fund, Nexus Global Fund and Prabhudas Lilladher.
The move is expected to help ease the financialstress on Ajay Singh-promoted low-cost carrier, which has been unable to pay employees or even deposit their statutory dues of TDS and PF.
It is severely short of planes as it has not paid stakeholders, including engine and aircraft lessors on time for several months, resulting in regular cancellation of flights. As a result, the on-time performance of a truncated schedule it has been operating has been badly impacted.
