NEW DELHI: Struggling to survive SpiceJet may receive about Rs 225 crore lending under “emergency credit line guarantee scheme” (ECLGS) next week.
Sources in the airline claim this money will be “used to clear statutory dues and lessor payments” and that a new chief financial officer (CFO) will join next week.
“Fund raise process has started in full earnest,” the source added.
The airline says delivery of new Boeing 737MAX will start soon. However, it has been claiming that since last winter.
Industry sources say the question is whether it can manage to finance those aircraft.
“Lessors know the situation in airlines and are extra cautious when it may seem that an airline is doing sale and lease back of aircraft only to rase funds through that methods,” said an industry insider.
