Debt-ridden budget airline SpiceJet plans to receive an additional ₹1,000 crore as part of the newly modified Emergency Credit Line Guarantee Scheme (ECLGS). The additional funding will help the airline clear all statutory dues, lessor payments, sources aware of the matter said.

The Finance Ministry has allowed airlines to avail themselves of loans up to 100 per cent of their requirement under the ECLGS, subject to conditions. This modification comes at a time when many airlines are in the red.

The company, with the funds, will look to induct brand-new Max (Boeing) planes and operate a younger fleet which will increase operational efficiency and “support cash-profitable operations”


#spicejet #ECLGS #cnbctv18 #businessnews #businessnewstoday #businessnewsinenglish #sharemarkettoday

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