SpiceJet promoter to infuse Rs 500 crore into the airline to boost financial position
Ajay Singh, the promoter of SpiceJet, has announced plans to infuse Rs 500 crore into the airline in order to strengthen its financial position. This move comes amidst various challenges faced by the aviation industry.
The fresh equity infusion will also enable SpiceJet to access additional credit facilities worth Rs 206 crore under the Emergency Credit Line Guarantee Scheme (ECLGS). In a statement, the board of SpiceJet confirmed that Singh has offered to invest Rs 500 crore to support the company’s growth plans and capture new opportunities in the market.
Singh, who serves as the Chairman and Managing Director of SpiceJet, expressed his confidence in the airline’s future and his commitment to its success.
“SpiceJet has a bright future and I am committed to helping it achieve its full potential. This investment will allow the airline to accelerate its growth plans and capture new opportunities in the market, grow its revenue and profits,” he said.