March 23, 2023

is currently exploring multiple options, including stake sale to other airlines, to raise up to Rs 2,000 crore, its CMD said on Tuesday.

The airline is looking to raise “investments from external parties, including airlines”, he said on the sidelines of an event of industry body ASSOCHAM.

However, Singh did not reveal how much stake the airline will sell to raise the amount mentioned above.

has been making losses for the last four years.

Recently, aviation regulator asked the airline to operate not more than 50 per cent of its flights for eight weeks. The regulator’s action came after the airline’s planes were involved in multiple incidents.

has been facing financial troubles in recent times. Rising fuel costs coupled with Covid-19 pandemic disruptions have affected the company.

Recently, SpiceJet did an out-of-court settlement with Credit Suisse where it agreed to clear its dues. The airline had Rs 8,446 crore in lease liabilities in FY21.

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