SpiceJet Eyes to Raise USD 250 Million in Next Couple of Months, Says Airline Chief Ajay Singh

New Delhi: National carrier SpiceJet Chief Ajay Singh has said the airline will be raising around USD 250 million in the next couple of months as the budget carrier works on boosting its operations. “It is difficult to kill SpiceJet….And we are trying to fix the problems,” he said and asserted that the airline’s balance sheet will be cleaned up over the next two quarters. Recently, the airline raised USD 150 million and is looking for more funds.
The airline is tackling multiple headwinds, including lessor and debt woes, with Singh saying the carrier has faced “significant black swan events”.
The airline plans to raise USD 250 million in the next couple of months and there is a bright enough future, Singh said at the CAPA India Aviation Summit in the national capital. Currently, the carrier has wet leased some aircraft as many of its planes are grounded due to various reasons.
“We will grow our own fleet,” Singh, the Chairman and Managing Director of the airline, said.
Singh also said it is critical that India has aviation hubs and “we need to take every possible step” in this regard.