SpiceJet airline news: Private sector airline SpiceJet, which is facing a cash crunch, is planning to raise funds once again. The company has planned to raise more than Rs 3,200 crore through debt and equity as well as capital investment by the promoter. The airline gave this information in a corporate presentation.
what did the airline say
SpiceJet said the amount will be used to settle liabilities, expand fleet and for other general company operations. The airline said SpiceJet has also planned to raise Rs 2,500 crore through qualified institutional placement (QIP) and Rs 736 crore through warrants and promoter investment. However, shareholders’ approval is required for the proposed plan.
share status
Talking about the stock of SpiceJet Airlines, it closed at Rs 61.46 on Friday. The stock has fallen by 2.43% as compared to the previous day. The stock was at Rs 34 in October 2023. This is the 52-week low of the stock. The stock went to Rs 77.50 on 5 February 2024. This is the 52-week high of the stock.
SpiceJet in trouble
SpiceJet airline has been in trouble for some time now. In the latest case, Delhi airport operator DIAL has asked SpiceJet to pay the dues as soon as possible. On the other hand, the airline said that there is no concern about the payment at the moment. Earlier, aviation regulator DGCA had kept a close watch on this budget airline last week.
Based on reports of SpiceJet cancelling flights and facing financial difficulties, the DGCA said it conducted a special audit of the airline’s engineering facilities on August 7 and 8 and found some deficiencies during the audit. Following this, the decision to put it under observation was taken.
