SpiceJet goes on an expansion plan! Low-cost airline announces Rs 900 crore funding for fleet upgradation
In a major development for the Indian aviation sector, SpiceJet has announced that it has more than Rs 900 crore in funding coming in this month. The low-cost airline plans to utilise this funding for the upgradation of its fleet and cost-cutting measures.
In an internal note to the senior staff, the airline said it now has a substantial bank balance of more than Rs 900 crore, including Rs 160 crore received as an installment under the government’s Emergency Credit Line Guarantee Scheme (ECLGS).
