Cash-strapped domestic carrier Spicejet plans to raise Rs 3,200 crore through QIP, warrants and capital infusion by the promoter, the airline said in a presentation on Friday. The funds will be utilised in taking back the grounded fleet in operations, liability settlement, new fleet induction and other general purposes, Spicejet in the presentations. "Spicejet plan to raise Rs 2,500 crore through QIP and Rs 736 crore through Previous Warrants and promoter infusion, the airline said in an investor presentation," it said in a corporate presentation to investors ahead of its proposed capital infusion.
The trails of mega-mergers, tailwinds of expanding fleets, flights and airports will dot the fast-growing Indian aviation firmament in 2025, though the dark clouds of supply chain woes will persist longer. Also, new airline takeoffs, the future trajectory of revised norms to tackle pilot fatigue and efforts to reduce carbon emissions will be on the radar.
As the race for Maharashtra chief minister enters the last lap, Hemant Waje looks at several scenarios which can play out.
SpiceJet had bet its fortunes heavily on the new version of the 737 of which it has 13 planes in its fleet and another 193 aircraft on order
Former Spice Girl Melanie Brown has shown her raunchy side as a burlesque babe for the latest underwear from lingerie giant Ultimo.
Budget carrier SpiceJet on Thursday said it has been designated as the "Indian scheduled carrier" to operate flights to the US.
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.
The fairy tale turnaround story has, however, taken a few knocks after a second wave of the pandemic has brought a series of default notices and has posed the toughest test for the 55-year old Singh to save the airline he founded and sold to the Marans only to assume control later.
SpiceJet, India's second-largest private airline, kicked off the process of hiving off its logistics business to its subsidiary SpiceXpress as it looks to raise much-needed capital. On Tuesday, the company sought its shareholders' approval to complete the process and to raise up to Rs 2,500 crore via a qualified institutions placement (QIP). It is in talks with multiple private equity investors as it tries to sell shares in the logistics arm to raise money.
India is one of the few countries in the region that enjoys good relations with both Israel and Saudi Arabia, and IMEC would allow it to recreate the old Spice Route to Europe. All this is in jeopardy now, notes Rajeev Srinivasan.
Analysts remain sceptical on the profitability from freighter business, saying that once normal air transport resumes and there's abundant belly capacity, the traditional economics of air cargo may not be that lucrative.
SpiceJet is the first Indian airline to operate on Kathmandu-Bagdogra route.
The fast-growing, high-margin branded spices business is turning out to be an interesting growth opportunity, which to an extent was reflected in the Sunrise-ITC deal, with multiple parties from PE to strategic players joining the fray.
Union Minister for Civil Aviation Praful Patel flagged off SpiceJet, India's latest low cost, no-frills airline on Tuesday on the Delhi-Ahmedabad-Mumbai route with a Boeing 737-800 aircraft in an efficient all economy 189 seat configuration.
While fares on the Delhi-Mumbai route have risen 45 per cent, Delhi-Bengaluru and Mumbai-Bengaluru tickets are priced 57 per cent and 42.5 per cent higher, respectively.
SpiceJet put one lakh seats up for grabs.
Amidst strained ties with China, the pre-budget Economic Survey on Monday made a strong case for seeking foreign direct investments (FDI) from Beijing to boost local manufacturing and tap the export market. As the US and Europe are shifting their immediate sourcing away from China, it is more effective to have Chinese companies invest in India and then export the products to these markets rather than importing from the neighbouring country, the Survey said.
The travel period for tickets availed under this offer stands between January 15 and April 12
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.
the airline is giving 30 per cent discount on tickets.
DGCA rules require pilots to service a six-month notice.
Airlines' summer schedule in India commences from late March and lasts till October every year.
Low cost carrier SpiceJet has launched its services on the Bangalore-Ahmedabad and Bangalore-Delhi via Ahmedabad routes.
Despite the gains from Jet's closure, in 2018 and 2019, the airline continued to make losses in many quarters for a variety of reasons, including some mistakes like taking on Jet's aircraft, which were not in great shape and had business class configuration, a gamble that did not work for SpiceJet.
Agra, Shimla, Nanded, Kanpur and Jamshedpur are among the many airports that would see connectivity under Udan.
The share swap is expected to be in the ratio of 1: 3, where SpiceJet shareholders will get one share of the merged entity for every three SpiceJet shares owned by them.
During the Diwali week (November 10-16), airfares on major routes across the country have surged by up to 44 per cent.
Low cost airline SpiceJet, will introduce international flights to Bangladesh, Sri Lanka and Nepal from Kolkata by June.
Words of advice from award-winning Chef Veena Arora on what she wants you, our young readers, to know.
Such tickets can be booked through the SpiceJet website alone
The Delhi airport, the country's busiest airport, on Friday early morning witnessed the collapse of a roof at Terminal 1 amid heavy rains that killed one person, prompting the government to order a detailed probe and an inspection of the structural strength of all airports.
This means a passenger flying between Delhi and Mumbai will now know that the minimum fare in the route will be Rs 95 (as being charged by SpiceJet) and can go up to a maximum of Rs 22,800 (as being levied by GoAir), plus around Rs 3,000 as components like passenger fees.
Wipro Consumer Care and Lighting on Thursday announced the acquisition of Brahmins - a Kerala-based traditional vegetarian, spice mix and ready-to-cook brand - and it has also drawn up plans to launch its snacks brand targeting the southern market. The company will focus on the southern market and is in the process of launching its own brand in the fast-growing ready-to-eat and snacks segment, Wipro Consumer Care and Lighting and managing director Vineet Agrawal told PTI. He further said Wipro Consumer Care and Lighting would take the acquisition route for expanding in the spices segment.
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.
SpiceJet in a statement said that there is no default in payment to AAI since January this year.
The offer is applicable to airline's all domestic destinations, including Mumbai, Delhi, Kolkata and Chennai, a company official said.
SpiceJet on Monday launched discounted ticket sales at 'rates cheaper than AC 2-Tier train fare.
The additional stake will cost the promoters Rs 312 crore (Rs 3.12 billion).
Expanding its international operations, the airline will launch its daily direct flight to Saudi Arabia's capital Riyadh from January next year.
In aviation parlance, an 'interline arrangement' is a deal under which the same ticket covers different legs of the journey flown by different airlines.
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