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SpiceJet revival plan News

24 Feb 2015

Ajay Singh back as SpiceJet promoter; Marans exit

Singh, the original promoter of SpiceJet, is now back at the helm as part of a revival plan that would also be seeing a capital infusion of Rs 1,500 crore into the low-cost carrier.

20 Feb 2015

SpiceJet shares soar 20% on CCI nod for capital infusion plan

Shares of SpiceJet on Friday surged nearly 20 percent after fair trade watchdog CCI approved original promoter Ajay Singh's plan to acquire controlling stake in the carrier.

22 Jan 2015

DGCA lifts curb on advance bookings, govt clears SpiceJet plan

The airline's Chief Operating Officer Sanjiv Kapoor said that the Directorate General of Civil Aviation's decision would "aid cash flow and the revival process".

16 Jan 2015

SpiceJet's new owners plan to cut fleet, shrink network

The prospective owners of low-cost carrier SpiceJet Ltd plan to cut the airline’s fleet, shrink its network and return to a "plain vanilla" business model to achieve profitability, two people close to the investors said.

15 Jan 2015

Downsizing, restructuring part of SpiceJet revival plan: Ajay Singh

Putting in resources to revive SpiceJet, its original founder Ajay Singh on Thursday said he has drawn up a five-year plan for the cash-strapped airline that would include downsizing and other restructuring efforts.

16 Jan 2015

Ajay Singh re-boards SpiceJet with Rs 1,500-cr deal; Marans out

Kalanithi Maran-led Sun Group would also infuse Rs 80 crore in the loss-making airline following conversion of their warrants, which would give them a 10 percent minority stake.

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.

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.

07 Jan 2015

SpiceJet says did not receive any credit from oil companies

The cash-strapped budget carrier had presented a revival plan to the Civil Aviation Ministry late last month, but it was told to submit a revised comprehensive plan with more details.

26 Dec 2014

SpiceJet pays salaries for November

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

SpiceJet revival plan

26 Dec 2014

SpiceJet to submit revival plan to government today

Beleaguered budget carrier SpiceJet would submit a revival plan to the government on Friday on the basis of a proposed investment of USD 200 million from founding promoter Ajay Singh and US-based JP Morgan Chase, as per sources.

22 Dec 2014

SpiceJet presents revival plan to government

Struggling budget carrier SpiceJet has presented a revival plan to the government, which will be discussed with oil companies and banks before taking a final decision regarding the airline, official sources said Monday.

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