Spicejet told the Delhi High Court on Monday that it was “struggling to stay afloat” after the low-cost carrier was ordered to make a payment to its former owner Kalanithi Maran over money owed.
The airline told the court that forcing it to pay in cash would be detrimental to the parties involved in the case, and none of the stakeholders would benefit if the budget airline went into insolvency.
The court told airline’s Chairman and Managing Director Ajay Singh to attend the hearing on January 10 regarding payment of arbitral award dues to founder of the Sun Group and promoter of Kal Airways Maran.
