SpiceJet yet to receive funds from new promoters

Cash-strapped SpiceJet is yet to receive any funds under its revival plan from new investors led by former promoter Ajay Singh, government sources said on Wednesday.
A senior official in the ministry of civil aviation said, “Few milestones have been completed. We would have wished that money would have come sooner, but can money come without ownership change.”
As per the revival plan submitted to and cleared by the ministry, SpiceJet was to receive two tranches of fresh capital of Rs 100 crore and Rs 400 crore on January 25 and February 15 respectively from new investors.

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