SpiceJet has announced plans to get 25 of its currently grounded aircraft back in the air. In a company release, the airline said the funds for the revival will be drawn from the Government’s Emergency Credit Line Guarantee Scheme (ECLGS) and better cash accruals.
Ajay Singh, Chairman and Managing Director, SpiceJet, said, “We are meticulously working towards return to service of our grounded fleet. Majority of the ECLGS funding received by the airline would be utilised for the same, which will help us capitalise and make the most of the upcoming peak travel season.”
The airline said it has already mobilised around INR 400 crore towards getting its grounded fleet back in the air, which will further enhance its top line. It also has a stronger balance sheet post the hive-off SpiceXpress, its cargo arm.
SpiceJet is the country's largest regional player operating multiple daily flights under the UDAN scheme and has a fleet of Boeing 737s & De-Havilland Canada Q-400s.
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