Low-cost carrier SpiceJet has raised about Rs 100 crore (Rs 1 billion) by allotting 4.29 crore shares to promoter Kalanithi Maran at a price of Rs 23.18 per share.
The airline had told its pilots on Wednesday that they will not be paid salaries for April and May, adding that those who have been operating cargo flights will get paid for the number of hours flown.
The budget carrier was on the verge of collapsing in Dec.
Things don't seem to be good at low fare carrier SpiceJet's office. In past few months, its top rung officers have resigned over differences in opinion with the management.
No-frills carrier SpiceJet is in active discussions with Singapore-based budget carrier Tigerair for a possible stake sale even as they are set to sign a code share agreement soon, sources said.
The prospective owners of Indian low-cost carrier SpiceJet Ltd plan to cut the airline's fleet, shrink its network and return to a "plain vanilla" business model to achieve profitability, two people close to the investors said.
Airports across the country have been placed on operational alert to manage potential flight diversions, unscheduled landings and passenger facilitation requirements.
Low fare private air carrier SpiceJet on Friday announced 'Red Hot Specials' scheme under which it would sell 9,999 seats for Rs 999 for all the six sectors it operated.
BSE has sought clarification from the company with respect to the media report stating that Spicejet is to sell part/complete stake to an investor.
The airline has launched a series of discount offers since January this year.
Jet Airways faces similar setback.
Due to airspace restrictions resulting from the conflict in the Middle East, Indian domestic carriers have cancelled 278 international flights. Some airlines are operating limited services and special flights to assist stranded passengers.
Air India and Air India Express are introducing a fuel surcharge on domestic and international flights due to rising jet fuel prices, impacting travel costs for passengers.
Likely to rake up the issue of open offer exemption.
Those who book tickets at discounted fares but later decide to check-in luggage would have to pay a fee.
While nobody was injured in the incident, it forced the airport to divert a few other flights.
India's second largest budget carrier SpiceJet, which reported a record Rs 1,003 crore (Rs 10.03 billion) net loss last fiscal, may soon receive the much-needed capital infusion as talks with an overseas investor have reached "very advanced stages".
The offer is applicable to airline's all domestic destinations, including Mumbai, Delhi, Kolkata and Chennai, a company official said.
Singh holds more than 36.15 crore shares.
Shares of SpiceJet zoomed almost 20 per cent on Friday on expectations of revival of the distressed air carrier.
In aviation parlance, an 'interline arrangement' is a deal under which the same ticket covers different legs of the journey flown by different airlines.
Other airlines are expected to follow suit.
Troubled carrier SpiceJet has paid employees' salaries for November and cleared dues of fuel companies as well.
Clearance of dues is a key step in airline's revival.
The airline was also asked to refund the money it charged from passengers for food and beverages as, according to the laid-down rules, it was supposed to have offered these items for free.
Fares would vary according to sector.
Expanding its international operations, the airline will launch its daily direct flight to Saudi Arabia's capital Riyadh from January next year.
Troubles for SpiceJet seem to have piled up and it remains financially strapped.
Spicejet has consolidated its base fare by including fuel surcharge in it.
The market is abuzz about how the fabled investor got it wrong.
Move aims to comply with Sebi's norm
IndiGo declined to comment on the matter
The DGCA official who wrongly assigned the code of Antonov AN-32 -- an aircraft used by the IAF -- to the SpiceJet aircraft has been suspended, report Arindam Majumder and Aneesh Phadnis.
India must address issues that are plaguing its aviation sector.
The airline has already commenced the sale of tickets for the new destination, which will be the ninth international sector to be served by carrier, SpiceJet said.
US-based co-working operator WeWork, Lowe's India, SpiceJet and startups like CureFit stepped in to offer employment to the distressed workers at Jet.
The airline has reported 5th straight quarter of net losses for the July-September period, at Rs 310 crore
Meanwhile, the company's shareholders last week approved proposals to raise Rs 145 crore through issue of debentures and warrants, on preferential basis, to its promoter Kalanithi Maran.
Carrying on with its low-fare offers, SpiceJet has now started giving limited-period discounted tickets to flyers from Andhra Pradesh, Tamil Nadu and West Bengal.
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