SpiceJet says worst behind it; recapitalisation to begin soon


Going through an ownership change, budget carrier SpiceJet today said it would "very soon" get the first tranche of funds under a recapitalisation process, while plans are being worked out for 'rightsizing' of operations including the headcount. 

The carrier is implementing a number of measures such as fleet rationalisation, optimising aircraft utilisation, re-negotiation of contracts and other cost control measures. 

Talking about the restructuring plan, SpiceJet Chief Operating Officer Sanjiv Kapoor said, "The first tranche of recapitalisation is imminent". 

"It will happen very soon," Kapoor told PTI in an interview. 


The budget carrier yesterday reported a widened net loss of Rs 275 crore in three months ended December 2014, mainly on account of lower passenger numbers and a one-time cost of Rs 295 crore. 

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