Bengaluru: Indian low cost carrier spicejet Ltd said on Thursday it has no plans to file for bankruptcy, fearing spillovers from rival go airlines Voluntary Bankruptcy Admission of (India).
“We wish to eliminate any speculation that may arise due to a filing by another airline,” spicejet said in a statement, adding that it is in talks with investors to raise funds.
The Gurugram-based carrier also said it has started reviving its 25 grounded fleet using its own funds and a $50 million credit line through the Indian government scheme it received on Thursday.
Earlier this week, SpiceJet’s lessees sought de-registration of at least four aircraft, according to a filing on the website of India’s aviation regulator.
Meanwhile, rival Go Airlines’ Solutions Professional, which has recently been branded go firstsaid it would need to raise funds to revive the bankrupt company, a source with direct knowledge of the matter told Reuters.
Go First was granted bankruptcy protection on Wednesday, a move that adds to the headache for lessors who have filed requests with the Directorate General of Civil Aviation for the return of nearly 40 aircraft after they defaulted on rental payments.
“We wish to eliminate any speculation that may arise due to a filing by another airline,” spicejet said in a statement, adding that it is in talks with investors to raise funds.
The Gurugram-based carrier also said it has started reviving its 25 grounded fleet using its own funds and a $50 million credit line through the Indian government scheme it received on Thursday.
Earlier this week, SpiceJet’s lessees sought de-registration of at least four aircraft, according to a filing on the website of India’s aviation regulator.
Meanwhile, rival Go Airlines’ Solutions Professional, which has recently been branded go firstsaid it would need to raise funds to revive the bankrupt company, a source with direct knowledge of the matter told Reuters.
Go First was granted bankruptcy protection on Wednesday, a move that adds to the headache for lessors who have filed requests with the Directorate General of Civil Aviation for the return of nearly 40 aircraft after they defaulted on rental payments.