{"id":527368,"date":"2022-10-06T11:27:32","date_gmt":"2022-10-06T05:57:32","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=527368"},"modified":"2022-10-06T11:27:32","modified_gmt":"2022-10-06T05:57:32","slug":"government-amends-credit-scheme-to-help-airlines-stay-afloat","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/government-amends-credit-scheme-to-help-airlines-stay-afloat\/","title":{"rendered":"Government amends credit scheme to help airlines stay afloat"},"content":{"rendered":"<p>NEW DELHI: In a lifeline for struggling-to-survive Indian carriers, the government has modified the emergency credit line guarantee scheme (ECLGS) to enhance the maximum loan amount eligibility for them to 100% of their outstanding loans or Rs 1,500 crore, whichever is lower, subject to certain conditions. Hit by Covid, airlines here had been reeling under high jet fuel prices and rupee\u2019s free-fall \u2014 with a large part of airlines\u2019 expenses being dollar-denominated.<\/p>\n<p>Sources in SpiceJet \u2014 which has for months not been able to pay employees\u2019 PF or deposit their tax deducted at source with authorities due to a paucity of funds \u2014 say the budget airline may get an additional Rs 1,000 crore under the amended scheme. This will \u201crejuvenate SpiceJet, help clear all statutory dues,lessor payments, induct new Boeing 737 MAX aircraft and settles the survivability debate once and for all,\u201d they add.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: In a lifeline for struggling-to-survive Indian carriers, the government has modified the emergency credit line guarantee scheme (ECLGS) to enhance the maximum loan amount eligibility for them to 100% of their outstanding loans or Rs 1,500 crore, whichever is lower, subject to certain conditions. Hit by Covid, airlines here had been reeling under high jet fuel prices and rupee\u2019s free-fall \u2014 with a large part of airlines\u2019 expenses being dollar-denominated. Sources in SpiceJet \u2014 which has for months not been able to pay employees\u2019 PF or deposit their tax deducted at source with authorities due to a paucity [&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":[220,130,137],"tags":[],"class_list":["post-527368","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-times-of-india","category-newspapers","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/527368","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=527368"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/527368\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=527368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=527368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=527368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}