The airline had reported a net loss of Rs 321.5 crore or Rs 3.21 billion in the same period a year ago.
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.
SpiceJet in a statement said that there is no default in payment to AAI since January this year.
The UK-based promoter-director Bhulo (Bhupendra) Kansagra of Delhi-based low-cost carrier SpiceJet is willing to divest the family stake in the airline if the valuations are right. The Kansagra family owns 12.91 per cent in the airline, which is publicly listed, and has a 10 per cent share in the Indian market, and a market capitalisation of $250 million.
The fresh round of discounted fares is applicable for three days starting Tuesday on all SpiceJet flights from eight cities in South India.
With the earlier order for 55 planes and additional 100 new 737-8 MAX aircraft, the no-frills carrier now has firmed up the order for a total of 155 planes, besides purchase rights for 50 B737-8 MAX and wide body aircraft.
The airline notched an on-time performance score of 79.9 per cent across the Delhi, Mumbai, Bangalore, and Hyderabad
The airline re-built the flight schedule and refunded passengers.
First investment by the group in aviation; deal size may be less than Rs 100 crore.
Jet Air shares rally on expectations that continuing troubles at rival SpiceJet will help it gain market share.
A Delhi-bound SpiceJet plane hit a stray buffalo on the runway while rolling for take-off from Surat airport late Thursday night, providing anxious moments to the 146 people on board.
Fares would vary according to sector.
Low cost carrier SpiceJet announced on Thursday the launch of a dedicated online web hotel reservation service, offering rooms in about 100 hotels in different parts of the country.
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 airline dropped fares to gain customer load, but failed to cover the cost of its flights
This would be the third fund infusion in the airline by Maran since September 2011.
Ajay Singh, one of the founder directors of Spicejet, has left the board of the low-cost airline, paving the way for restructuring of the company by its new owner Kalanithi Maran, the promoter of Sun TV.
The Chennai office of Registrar of Companies sent the notice to the second-largest no-frills private carrier last month.
There could be rejig at top level at SpiceJet.
Signalling an imminent change in SpiceJet's ownership, potential investors including co-founder Ajay Singh and US-based JPMorgan have begun discussions with markets regulator Sebi over their investment plan for the cash-strapped airline.
A look at the Kalanithi Maran-controlled airline's place in the domestic aviation sector
The airline's board decides to issue warrants to promoters on a preferential basis
The islands that would be connected through seaplanes are Campbell Bay, Car Nicobar, Havelock, Hutbay, Neil, Long Island and Diglipur, reports Arindam Majumder.
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.
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.
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.
In a fresh trouble for the budget carrier SpiceJet, aircraft lessors have approached the aviation regulator DGCA, seeking its permission to repossess 11 Boeing planes of the airline, even as its revival plan is under review of the Civil Aviation Ministry.
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.
The budget carrier was on the verge of collapsing in Dec.
The Monopolies and Restrictive Trade Practices Commission has initiated two cases of unfair trade practice against low-cost carrier Spicejet.
The airline management has now sought a meeting with civil aviation minister Ashok Gajapathi Raju to present the airline's plan.
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).
Airline says can't discuss dues publicly, denies grounding of planes
Air India and IndiGo have already suspended Kamra from flying until further notice and six months, respectively.
Growth in the domestic market in the second quarter was fuelled by low fares but this has impacted airline profits.
SpiceJet COO says ATF price cut is need of the hour.
The aviation authority is concerned about financial health of Air India, Spicejet and Jet Airways.
Shares of SpiceJet on Wednesday rose by over 19 per cent even as aviation regulator asked the no-frills carrier to immediately stop its offer of one-rupee fares across its domestic network.
Shares of SpiceJet surged over 17 per cent on Monday after ace investor Rakesh Jhunjhunwala's Rare Enterprises picked up 75 lakh shares of the company for more than Rs 13 crore (Rs 130 million) through open market.
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