Carrier in denial, even as Paramount looks for a buy.
SpiceJet also plans to increase its daily flights to 251.
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.
the airline is giving 30 per cent discount on tickets.
The additional stake will cost the promoters Rs 312 crore (Rs 3.12 billion).
Low-cost carrier SpiceJet Ltd on Friday said it expects to resolve settlement disputes with its lessors shortly.
No-frills carrier SpiceJet has put ten lakh seats on the block with base fares starting as low as Rs 999, which are lower than a 3-AC train ticket, for a one-way journey under a limited period offer.
Spicejet has sought extention from the Airports Authority of India over payment schedule.
The Irish firms had sought to deregister SpiceJet.
Air India and IndiGo have already suspended Kamra from flying until further notice and six months, respectively.
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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.
The islands that would be connected through seaplanes are Campbell Bay, Car Nicobar, Havelock, Hutbay, Neil, Long Island and Diglipur, reports Arindam Majumder.
SpiceJet had last year announced a $4.4-bn deal for 42 Boeing 737 Max.
Spicejet has consolidated its base fare by including fuel surcharge in it.
SpiceJet is expanding international operations to improve dollar earnings and offset losses caused by currency rate fluctuations.
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.
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.
It is not clear whether the fund would be looking at a possible buyout of the promoters' stake or fresh infusion of equity. Wilbur Ross does not have any investment in aviation till now. The fund will be looking at a bailout for the airline as SpiceJet is seeking to raise funds to stay afloat and also to fund the aircraft acquisition for its new Boeing fleet scheduled for deliveries over the next five months.
SpiceJet has cut capacity by reducing its fleet to 35 Boeing 737 aircraft from 42 in December.
Lower fuel costs and tight control on expenses propped up earnings before interest, tax, depreciation and amortisation (Ebitda) margins to one per cent.
SpiceJet in a statement said that there is no default in payment to AAI since January this year.
Airlines' summer schedule in India commences from late March and lasts till October every year.
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 Gurgaon-based carrier, which started its regional operations from Hyderabad last month, plans to have the hubs in Chennai, Ahmedabad, Bangalore, Kolkata and Delhi.
Says, it is too pre-mature to comment on the possibilities of any fresh equity issuance.
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.
IndiGo continues to fly high as the top airline in India while crisis-hit SpiceJet has some good news.
Indian budget airline SpiceJet has agreed to buy around 40 Boeing 737 passenger jets worth over $4 billion at list prices as it seeks to modernize its fleet and climb out of the red, industry sources said on Tuesday.
Fares would vary according to sector.
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
The fresh round of discounted fares is applicable for three days starting Tuesday on all SpiceJet flights from eight cities in South India.
The airline notched an on-time performance score of 79.9 per cent across the Delhi, Mumbai, Bangalore, and Hyderabad
His resignation comes at a time when the cash-strapped airline is looking at various ways to get in fresh investment. The airline will either look at a merger with Kingfisher Airlines, which is promoted by liquor baron Vijay Mallya, or a possible infusion from US distress fund Wilbur Ross, which is willing to pump in money.
The airline re-built the flight schedule and refunded passengers.
Jet Air shares rally on expectations that continuing troubles at rival SpiceJet will help it gain market share.
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.
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.
The airline dropped fares to gain customer load, but failed to cover the cost of its flights
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.
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