It has posted losses in four consecutive quarters as higher operating costs wiped out revenue gains.
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.
A source said Mills was leaving the airline as he was not getting operational freedom to run the organisation.
IndiGo's passenger load factor, at 67% in July, fell six percentage points from the same month last year.
Of the 243 listed flights, it claimed to have operated 75 across the country after 1600 hours on Wednesday.
Singh holds more than 36.15 crore shares.
An average Indian couple spends around 2x on weddings versus education (pre-primary to graduation).
Troubled carrier SpiceJet has paid employees' salaries for November and cleared dues of fuel companies as well.
Airfares have nearly doubled in a matter of days on routes hit by the cancellation of 200 weekly flights linking Mumbai airport to 12 cities. The fares have soared as high as 193 per cent following a recent government order to cancel flights to ease "persistent congestion" that was causing delays. Aside from the reduction in flights on 12 routes, two destinations - Hubli and Jabalpur - have lost connectivity with Mumbai since last week, according to aviation analytics firm Cirium's data reviewed
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.
Shares of SpiceJet zoomed almost 20 per cent on Friday on expectations of revival of the distressed air carrier.
Low-cost carrier SpiceJet on Friday said it has launched a 'Home Away Insurance' for all its customers in collaboration with insurance firm Tata AIG.
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.
The airline has launched a series of discount offers since January this year.
Latter's market share rises to 36.1% in Dec; best on-time performance across metro airports
Clearance of dues is a key step in airline's revival.
Budget carrier SpiceJet on Wednesday joined the low fare race in the domestic market putting on the block half a million seats with ticket prices starting at Rs 1,499 under a limited period promotional offer.
Oil firms will supply fuel to SpiceJet on 'cash and carry basis'.
No-frills airline SpiceJet on Wednesday launched yet another round of limited-period low fare offers to fill its seats for travel between July and September when air travel generally slumps.
India must address issues that are plaguing its aviation sector.
Kalanithi Maran's stake in the no-frills airline has increased by nearly 6 per cent to 22.05 per cent due to allotment of equity shares following conversion of convertible debentures.
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.
The offer is applicable to airline's all domestic destinations, including Mumbai, Delhi, Kolkata and Chennai, a company official said.
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The airline, which posted an annual loss of Rs 191 crore (Rs 1.91 billion) for the past financial year, has been looking to raise funds for months.
In an email, a SpiceJet spokesperson said: "A few foreign airlines/investors have evinced interest in SpiceJet. It will be very premature to comment on the possibilities of any fresh equity issuance to such interested parties."
India is not an easy environment to operate in and grow because of the high cost of operations, says Neil Mills.
Sun Group chief Kalanithi Maran and his wife Kavery Maran have resigned from one of the promoter entities of SpiceJet, triggering speculations about a possible sale of Maran family's majority stake in the air carrier.
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.
Even as it is expected to post a net loss, the Delhi-based no-frills airline SpiceJet is reducing its financial year to ten months ending March 31, 2007, for operational reasons.
No frills carrier SpiceJet on Monday cut down base fare for its evening flights to Kathmandu to Re 1 for two days starting on Monday.
Jet Airways faces similar setback.
As full-service carriers hiked fares and surcharges due to skyrocketing jet fuel prices, the no-frill ones have launched special offers with SpiceJet on Thursday announcing the sale of three lakh tickets for Rs 3 each plus taxes and surcharge from Friday.
Sources aware of the development said as part of the project, the airline had signed an agreement with Reliance Industries Ltd, which would extend quality control services at its coastal terminals for ATF imported by the airline.
Move aims to comply with Sebi's norm
Low-cost carrier SpiceJet's share price went up 9.5 per cent at the Bombay Stock Exchange today in an otherwise flat market fuelled by speculation that the airline was in merger talks with another Delhi-based low-cost carrier, IndiGo.
SpiceJet has held "preliminary discussions" with a Gulf airline for potential investment in the Indian budget carrier, a news report has said.
HC asks DGCA not to de-register SpiceJet planes till April 6.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
With the new fleet of Bombardier Q400 aircraft, the Kalanithi Maran-promoted airline aims at reaching more hinterland of northern Indian and connect more Tier II and Tier III cities on its network.
