Sources said SpiceJet's deal with Boeing is worth around $1.4 billion as per the list price. When contacted, company officials, however, declined to comment on the valuation of the deal.
The warning had come after SpiceJet's dues to AAI (including interest at 12 per cent) exceeded Rs 300 crore (Rs 3 billion) this month -- from Rs 230 crore (Rs 2.3 billion) early December last year.
The Gurgaon-based carrier, which started its regional operations from Hyderabad last month, plans to have the hubs in Chennai, Ahmedabad, Bangalore, Kolkata and Delhi.
SpiceJet Ltd., an Indian budget airline, will likely to sell a foreign currency convertible bond worth $90 million by early September to raise money for more plane purchases, a company executive said Wednesday.
SpiceJet is offering fares on Mumbai-Dubai route as a discount.
Singapore-based Tigerair has terminated its passenger swapping pact with Spicejet over a year after the two budget carriers forged the inter-line arrangements.
Budget carrier SpiceJet on Wednesday launched another discounted ticket scheme, offering fares as low as Rs 1,599 across its domestic network for travel between February 15 and April 15 to celebrate Valentine's Day.
Operations have stabilised with on-time performance at around 90 per cent and cancellations rates being the lowest in the industry.
The company held about $12 million worth of FCCBs in SpiceJet. Bank of America-Merill Lynch brokered the block deal for the company, said sources.
Though a formal purchase agreement with Boeing is yet to be signed, SpiceJet's order size could be of 40-50 planes, a source familiar with the development said. At list price, a 737 Max aircraft is valued at about $100 million (Rs 620 crore).
The airline reported a net loss of Rs 321.50 crore (Rs 3.21 bn) in Q4.
Low cost airline SpiceJet, will introduce international flights to Bangladesh, Sri Lanka and Nepal from Kolkata by June.
No-frill carrier SpiceJet on Monday announced compensation to passengers for delay or cancellation of flights due to factors within their control, through travel vouchers worth Rs 500 or Rs 1,000.
The plane can fly non-stop to Singapore, Doha (Qatar), Kuwait, Abu Dhabi (UAE), Riyadh (Saudi Arabia), Kuala Lumpur (Malaysia), Tehran (Iran), Salalah (Oman) and Kunming (China), among other destinations, from various Indian airports.
Three months after Sanjay Aggarwal resigned as chief executive officer (CEO) of SpiceJet, the airline announced the appointment of Neil Raymond Mills as the CEO.
The bulk of Indian carriers flying to Dubai are low-cost carriers, which include IndiGo, Air India Express, and SpiceJet.
The market, however, reacted negatively to SpiceJet's announcement and the company's stock dropped by 0.87 per cent as analysts became wary of diversion into a new business during a high fuel price environment.
In March 2020, soon after the cessation of airline operations globally and domestic flights within India, many in the aviation sector had written Delhi-headquartered low-fare airline SpiceJet's obituary well before that of most of its rivals. Unlike IndiGo, GoAir (now rechristened Go First), Vistara and even AirAsia India, SpiceJet did not have founders or backers with deep pockets. Although it is the only other listed carrier in India besides IndiGo, it was considered the weakest and the least likely to survive the pandemic. But chairman and managing director Ajay Singh surprised everyone by not only surviving but taking the lead on many fronts. Within a few weeks of the scheduled flight stoppage, SpiceJet was doing as many charter flights as it could get hold of.
If oil prices continue as they are and we can cut costs, we'll be able to break even in the next financial quarter, says Singh.
SpiceJet on Monday launched discounted ticket sales at 'rates cheaper than AC 2-Tier train fare.
SpiceJet is expanding international operations to improve dollar earnings and offset losses caused by currency rate fluctuations.
There are few deals where the buyer and the seller both walk away happy. The SpiceJet deal is one, where each side had a price point for reference.
The additional stake will cost the promoters Rs 312 crore (Rs 3.12 billion).
Cash-strapped SpiceJet has cancelled over 1,800 flights across the country for the current month, in signs of mounting troubles for the budget airline.
SpiceJet on Tuesday said the private equity firm led by billionaire Wilbur Ross will invest $80 million (about Rs 345 crore) in the low cost airline.
On December 31, SpiceJet's accumulated losses had grown to Rs 3,233 crore.
The bookings for this three-day offer commences from Monday with a travel validity period between January 16 and October 24 next year, SpiceJet said.
The airline launched a three-day discounted sale of tickets starting at Rs 1,010, to mark its 10th anniversary
Such tickets can be booked through the SpiceJet website alone
Last week, the carrier had asked about 60 pilots who had resigned to leave after serving only half the six-month notice period.
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After all its flights remained grounded for most part of the day on Wednesday, cash-strapped SpiceJet resumed operations in the evening as oil companies, which had stopped fuel supplies to its aircraft, eased the restriction.
SpiceJet had last year announced a $4.4-bn deal for 42 Boeing 737 Max.
SpiceJet owes around Rs 240 crore (Rs 2.40 billion) to the Airports Authority of India (AAI) for using its airports in the country.
Global investment banking and securities firm Goldman Sachs has expressed interest in acquiring equity in Delhi-based SpiceJet even as top sources said talks for a merger with Kingfisher Airlines are on track.
The travel period for tickets availed under this offer stands between January 15 and April 12
The DGCA has allowed SpiceJet to accept advance bookings beyond March 31.
Frequent flight cancellations and the Airports Authority of India's decision to put SpiceJet on a cash-and-carry mode have made online travel agencies nervous.
Shares of SpiceJet fell sharply by over 8 per cent as flight operations of the cash-strapped company were grounded on Wednesday on payment woes.
SpiceJet will operate two daily flights using wet leased Twin Otter aircraft from Maldivian Aero. PM Modi is expected to inaugurate and travel on first flight.
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