Budget carrier SpiceJet has mobilised plan to revive its 25 grounded aircraft.
On Wednesday, it said funds for the revival will be drawn from the government’s Emergency Credit Line Guarantee Scheme (ECLGS) and better cash accruals. The airline has already mobilised around Rs 400 crore towards getting its grounded fleet back in the air, which will further enhance its top line. Ajay Singh, Chairman and Managing Director, SpiceJet, said, “We are meticulously working towards return to service of our grounded fleet back in the air soon. Majority of the ECLGS funding received by the airline would be utilised for the same, which will help us capitalise and make the most of the upcoming peak travel season.”
The budget airline expects a stronger balance sheet, post-hive-off of SpiceXpress.
SpiceJet is one of India’s airlines that has made flying affordable for Indians.
