Indian budget airline, SpiceJet Ltd, is in a dire need of recapitalisation to successfully come out of the financial storm, say industry experts, a media reported on Monday.
According to a Livemint report, the company needs capital infusion to compete with the already existing and newly launched airlines.
The company reported huge loss in April-June period of this quarter with its Chief Financial Officer Sanjeev Taneja resigning. From the grounding of the fuel-efficient Boeing 737 MAX in 2019 to deregistering of six aircrafts in August 2022 due to non-payment of dues to lessors, SpiceJet is witnessing a sense of unrest among its employees as their salaries are yet to be resumed to the pre-Covid levels.
