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Singh offers lifeline to SpiceJet
Mint Mumbai
|July 13, 2023
SpiceJet Ltd will receive a fresh capital infusion of ₹500 crore from its promoter Ajay Singh, offering a lifeline to the financially-beleaguered budget airline. Singh will infuse the funds by subscribing to fresh equity shares and/or convertible instruments.
The decision was made at SpiceJet’s board meeting on Wednesday to consider various options to raise funds either by selling shares or convertible securities on a preferential basis or both.
The airline, which is struggling due to poor finances, has yet to declare earnings for the March quarter and for the financial year ended 31 March.
Post the six-hour-long board meeting, SpiceJet announced Singh’s decision to strengthen the airline’s financial position.
Diese Geschichte stammt aus der July 13, 2023-Ausgabe von Mint Mumbai.
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