India's SpiceJet plans to raise ₹3000 crore ($360 million) to restore full operations amidst quarterly losses and unpaid dues.
India's SpiceJet plans to raise ₹3000 crore ($360 million) by selling securities, including shares, to restore full operations. The budget carrier has been struggling with quarterly losses and is facing legal actions from some lessors over unpaid dues. As of March-end, SpiceJet had cash and cash equivalents of 1.87 billion rupees, with cash from operational activities at a negative 6.13 billion rupees.
July 23, 2024
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