SpiceJet stress mounts, AAI threatens to put it on cash-and-carry

NEW DELHI: Airports Authority of India (AAI) has decided to put SpiceJet on cash-and-carry from all its airports because of mounting dues from the stressed airline.
“…competent authority has approved to put the operation of SpiceJet on Cash & Carry basis out of all AAI Airports with effect from 12.01 am of July 30. …SpiceJet… to make necessary arrangement to deposit the required amount at the respective Stations for day-to-day operation,” an AAI order says.
On its part, the airline’s spokesman said: “The Airports Authority of India deferred its decision to put SpiceJet on cash and carry. We continue to have normal operations at all AAI-run airports as before without any impediments.”
SpiceJet had on Wednesday reported its highest ever quarterly loss of Rs 807 crore for the January-March, 2020, period. Audit firm S R Batloboi & Associates LLP’s note with the airline’s result has cast doubt on the going concern status of the airline. The budget airline is yet to report the result of Q1 (April-June) for the current fiscal.