Budget carrier SpiceJet on Wednesday said it is working to revive 25 grounded planes and has so far mobilised Rs 400 crore for revival of these aircraft.
The announcement comes a day after competitor Go First filed for voluntary insolvency resolution proceedings and decided to cancel flights for three days starting May 3.
In a statement, SpiceJet said funds for the revival of the 25 aircraft will be drawn from the government’s Emergency Credit Line Guarantee Scheme (ECLGS) and better cash accruals.
The airline has around 80 planes in its fleet and is looking to revive 25 grounded Boeing 737 and Q400 aircraft.
