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SpiceJet crisis News

12 Feb 2015

Auditors flag 'doubt' over Spicejet's going-concern viability

With SpiceJet flying into Rs 275 crore quarterly loss, the beleaguered carrier's auditors have raised "significant doubt" over the 'going-concern' viability of the company saying its overall liabilities has outstripped total assets.

12 Feb 2015

SpiceJet flies deeper into red, Q3 loss widens to Rs 275 cr

In the middle of an ownership change, budget airline SpiceJet on Thursday reported a steep 59 percent rise in its third-quarter net loss at Rs 275 crore on lower passenger numbers and a one-time cost of Rs 295 crore.

SpiceJet restructuring

04 Feb 2015

SpiceJet future 'now looks secure', says Kapoor

Emphasising that its future now looks secure with a restructuring process underway, SpiceJet's top executive Sanjiv Kapoor said the difficult period created by some "legacy issues" are over for the carrier.

23 Jan 2015

BOC Aviation says repo row could hurt SpiceJet

India faces growing pressure over financial uncertainty at budget carrier SpiceJet after leasing company BOC Aviation demanded the return of three leased aircraft, in what is seen as a test of global rules on aircraft investments.

22 Jan 2015

To stimulate demand, discount sales a right thing: Kapoor

Crisis-hit SpiceJet said selling tickets at low rates is the "right thing to do" provided it is done in the "right way".

15 Jan 2015

SpiceJet deal announcement linked to Pongal festival!

Crisis-hit SpiceJet board's approval Thursday for transfer of promoter Maran family's stake as well as control to Ajay Singh coincided with Pongal, an auspicious day in South India.

15 Jan 2015

SpiceJet revival: Singh says more investors to join in

Singh, to whom current promoters Maran family have agreed to transfer their entire over 53 percent stake as part of a revival plan, said turnaround for the airline could happen in the 2-3 quarters.

15 Jan 2015

SpiceJet says looking ahead to normalcy

As SpiceJet Thursday got a new lease of life with co-founder Ajay Singh back in control, the airline said it is looking forward to get back to normalcy and may take some more steps for its revival.

14 Jan 2015

SpiceJet may consider layoffs ahead of proposed investment

Beleaguered budget carrier SpiceJet may consider retrenching a section of its around 5000 employees ahead of the proposed fund infusion by the potential investors in the company.

14 Jan 2015

SpiceJet crisis: Investors approach Sebi with revival plan

Signalling an imminent change in SpiceJet's ownership, potential investors including co-founder Ajay Singh and US-based JPMorgan have begun discussions with markets regulator Sebi over their investment plan for the cash-strapped airline.

14 Jan 2015

Arrangements with group cos are commercial decisions: SpiceJet

Crisis-hit carrier SpiceJet Wednesday said its arrangements with group companies are based on commercial decisions without any possibility of extending or receiving special treatment.

12 Jan 2015

Kamlesh Auto buys over Rs 6 crore-worth SpiceJet shares

In beleaguered SpiceJet hitherto unknown Kamlesh Auto Pvt Ltd has purchased shares worth over Rs 6.3 crore through a bulk deal.

09 Jan 2015

SpiceJet shares surge 10% on hopes of capital infusion

SpiceJet's scrip zoomed 9.91 percent to Rs 18.30 -- its highest trading permissible limit for the day on the BSE.

08 Jan 2015

SpiceJet may get first round of investment by Jan 10

Crisis-hit SpiceJet may get the first round of its much-needed fund infusion in the next two days, while more may come in a month's time as part of an estimated USD 200 million investment plan, sources said on Thursday.

31 Dec 2014

SpiceJet defaults on salary payment a second time

Beleaguered carrier SpiceJet defaulted a second time on salary payments in last two months but got a reprieve Thursday from the Airports Authority of India (AAI), which extended the two-week credit payment facility to it by another 14 days.

Shares of SpiceJet

26 Dec 2014

SpiceJet shares zoom 9% on proposed revival plan

Shares of SpiceJet surged 9 percent on Friday following reports that the budget carrier would submit a revival plan to the government on the basis of a proposed investment of USD 200 million from founding promoter Ajay Singh and US-based JP Morgan Chase.

26 Dec 2014

SpiceJet submits revival plan to govt

Troubled budget carrier SpiceJet on Friday submitted a revival plan to the government on the basis of a proposed investment of USD 200 million from founding promoter Ajay Singh and US-based JP Morgan Chase.

26 Dec 2014

SpiceJet pays salaries for November

Beleaguered budget carrier SpiceJet has paid the salaries for November to its employees.

26 Dec 2014

SpiceJet to submit revival plan to government on Friday

The potential investors are likely to buy stake from current promoter Kalanithi Maran by infusing USD 200 million within a month to help the airline stay afloat.

24 Dec 2014

Govt considering cap on maximum economy class air fare at Rs 20,000

Government is considering capping economy air fares at Rs 20,000 to check airlines from charging "exorbitant" fares or unleashing predatory pricing, affecting their own financial health.

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