The board of ailing budget carrier SpiceJet has approved selling shares worth around US$243 million. This follows the founder of the airline, Ajay Singh, offering a rescue plan. SpiceJet was launched in 2005.
Photo Credit: Neelam Mathews
It's not easy going as yet for the carrier that owes around US$55 million to the Airports Authority of India, which has asked for dues to be cleared by mid- February.
It's not easy going as yet for the carrier that owes around US$55 million to the Airports Authority of India, which has asked for dues to be cleared by mid- February.
The carrier that has, in the past, resorted to high discounts, extended its first 'SuperSale' this year by two more days. The market has seen some of the lowest airfares in the past year with competing carriers having to reduce their fares too.
.jpg?n=7857 "Photo Credit: Neelam Mathews")
