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.

Comments

Post a Comment

Popular posts from this blog

GE, Rolls Royce, Pratt & Whitney : Who Rules the Engine Market?

When it comes to engines, much like plane manufacturers, there are a few players leading the market. GE, Rolls Royce, and Pratt & Whitney are likely the names you hear the most when looking at the industry (or looking out the window). But which of these three giants is the leader? And what planes do they power? Essential parts The engine is an essential part of the aircraft, providing the power and thrust required to operate an aircraft and keep it in the air. Engines also determine  aircraft efficiency , a key factor in reducing emissions and fuel burn. When purchasing planes, airlines are faced with the option of which engines to put on their planes. Safety isn’t usually an issue with most engines, although  a few  have seen  recurring issues , which means airlines usually make the decision on price alone. So, what choices do airlines have for engines? That depends on your plane and aircraft type. Take the A380 for instance. When purchasing the aircraft, airlin...
Read more

Vistara Domestic Premium Economy vs. Economy – Is The Upgrade Worth It?

Economy on Vistara As one of only two  full-service carriers  in India, Vistara offers a high-quality economy product. On its A320, which used on most domestic routes, it offers 18-inch wide seats with a pitch of 29-30 inches. While this does sound standard, the well-padded seats and adjustable headrest make for a much more comfortable offering than its low-cost competitors. The seats also offer an acceptable 3″ recline. In terms of service, Vistara is one of the few airlines offering hot meals on domestic routes (minus short routes under an hour). All economy passengers, except those booked on Economy Lite fares, receive a meal along with hot or cold beverages. From personal experience, the meals are good and enough for domestic hops. For those traveling on Lite fares, only complimentary hot beverages are available. Vistara also has a small buy-on-board menu, which features packaged snacks and drinks, along with some hot instant meals. Originally, the airline served all passe...
Read more

IndiGo vs SpiceJet– Which Indian Low-Cost Carrier Is Better For Passengers?

The Indian aviation industry comprises of one of the most cost-sensitive passenger demand in the world. The reason behind this might not be purely financial but also cultural. On average, a flight from one corner to another corner of India doesn’t take more than 2.5 hours. Hence, Indians, in general, are more inclined towards spending less than experiencing premium service for such a small period. Around the early 2000s, the Indian government had opened the airline industry for private carriers. Since then, low-cost carriers (LCCs) like IndiGo and SpiceJet have turned the dynamics of the airline market. Growth of Low-cost carriers in India As of now, LCCs possess more than 80% of the market share. Since 2009, the expansion of Indian flight capacity has made it consistently one of the world’s fastest-growing markets. The LCCs drove most of this growth. In total, the number of available departure seats has more than doubled, swelling by 114.5% to 206 million in 2018. However, the increas...
Read more