{"id":518773,"date":"2022-09-02T11:35:46","date_gmt":"2022-09-02T06:05:46","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=518773"},"modified":"2022-09-02T11:35:46","modified_gmt":"2022-09-02T06:05:46","slug":"spicejet-accumulated-losses-hit-rs-6700-crore","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/spicejet-accumulated-losses-hit-rs-6700-crore\/","title":{"rendered":"SpiceJet accumulated losses hit Rs 6,700 crore"},"content":{"rendered":"<p>With losses of Rs 1,721.9 crore in FY22 and Rs 787.9 crore in the June quarter, SpiceJet\u2019s accumulated losses touched Rs 6,700.5 crore at the end of June, resulting in a further erosion of the company\u2019s net worth, the firm\u2019s auditors have said.<\/p>\n<p>The airline\u2019s current liabilities exceed its current assets by Rs 6,691.2 crore, the auditors have noted. The SpiceJet stock crashed more than 14% in early trades on Thursday before ending the session at Rs 44.95, down 3.13%.<\/p>\n<p>The company has said it is looking to raise additional funds from banks under the ECLGS 3.0 extension scheme. The board has also approved a fresh capital raise through issue of eligible securities; there is talk of raising $200 million of equity capital, possibly through a stake sale. SpiceJet\u2019s promoter Ajay Singh and his family hold 59.4% stake in the airline.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With losses of Rs 1,721.9 crore in FY22 and Rs 787.9 crore in the June quarter, SpiceJet\u2019s accumulated losses touched Rs 6,700.5 crore at the end of June, resulting in a further erosion of the company\u2019s net worth, the firm\u2019s auditors have said. The airline\u2019s current liabilities exceed its current assets by Rs 6,691.2 crore, the auditors have noted. The SpiceJet stock crashed more than 14% in early trades on Thursday before ending the session at Rs 44.95, down 3.13%. The company has said it is looking to raise additional funds from banks under the ECLGS 3.0 extension scheme. The [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[196,130,138],"tags":[],"class_list":["post-518773","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-financial-express","category-newspapers","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/518773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=518773"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/518773\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=518773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=518773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=518773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}