Currently, Wadia Group’s airline Go First is facing financial crisis. NCLT has also approved its bankruptcy process petition. Meanwhile, SpiceJet, another private sector airline, has denied the news related to bankruptcy.
SpiceJet Limited says that it has no plans to file insolvency. She is focusing on her business. The airline is constantly in talks with investors to raise funds and bring itself back on track.
SpiceJet has re-initiated the process to augment its grounded fleet with internal cash and the $50 billion fund the airline received from the government’s Emergency Credit Line Guarantee Scheme (ECLGS). The airline has categorically rejected the plan to file for bankruptcy.
SpiceJet had received a bankruptcy notice
Let us tell you that recently NCLT has sent a notice of bankruptcy to SpiceJet. This notice to SpiceJet has been issued on the petition of an aircraft rental company of Ireland. Aircraft leasing company Aircastle claimed that it has pending dues on SpiceJet. In the petition, NCLT has been appealed to start the bankruptcy process against SpiceJet.
There is no question of filing a petition for bankruptcy. Any rumor related to this is completely baseless. SpiceJet Chairman and Managing Director Ajay Singh said that it is firmly focused on restarting its grounded fleet and getting more and more aircraft back in the air. Lasers had recently approached aviation regulator DGCA to cancel the registration of three aircraft of the airline.
cancellation of registration
According to an update on the DGCA website, the airline’s three lessors, Wilmington Trust SP Services, Sabarmati Aviation Leasing and Falgu Aviation Leasing, have sought deregistration of one aircraft each.
According to an aircraft tracking website, SpiceJet had 67 aircraft including Boeing 737, B737 Max and regional jet Bombardier-Q400. Of them, 37 were in operation and 30 were not in service as on 3 May.
Raised 400 crores to start flights
Last week, SpiceJet had said that it has raised Rs 400 crore to restart 25 flights in its fleet which are out of operation due to various factors. Tried to allay concerns about increased airfares as a result of the bankruptcy filing, calling GoFirst a “temporary phenomenon”.