MoCA considering special package for domestic airlines after SpiceJet crisis

According to a report by P R Sanjai in Mint, the Ministry of Civil Aviation (MoCA), Government of India is considering a special package for airlines in the wake of SpiceJet Ltd. grounding its fleet briefly owing to a cash crisis, according two MoCA officials. “We are preparing special relief measures for Indian airline companies, including granting infrastructure status. The said package is not restricted to SpiceJet. We are talking to the Finance Ministry to finalise the plan,” said one of the officials. He said MoCA will take up the proposals after the current Parliament session.

The second official said the government will also take up the issue of high-cost jet fuel later. Jet fuel accounts for 50 per cent of expenses for Indian airlines. “Certainly, the SpiceJet crisis has triggered this proposal, but the package would not be specific to SpiceJet. There is a series of proposals that should make life of Indian airlines better,” the first official said.

If MoCA is successful in extending infrastructure status to airlines, it could help them access finances at cheaper rates and ease some of the cash crunch.

 http://www.travelbizmonitor.com/Aviation/moca-considering-special-package-for-domestic-airlines-after-spicejet-crisis-26127

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