SpiceJet jumps over 9% on report of likely Rs 1,000 cr govt loan
Shares of the budget airline carrier SpiceJet rallied over 9 per cent in Thursday’s trade after a media report said that the company is expected to receive an additional Rs 1,000 crore ($122.7 million) loan under the government’s modified Emergency Credit Line Guarantee Scheme.
Airline executives said that the fund will be used to make lease payments to induct new Boeing 737 Max aircraft and clear outstanding statutory dues like the employee provident fund. “This will take care of the survivability question of the airline once and for all,” said an airline executive.
