SpiceJet to Raise USD 250 Million Amid Operational Challenges, Says CEO Ajay Singh

SpiceJet Chief Ajay Singh announced on Wednesday that the airline plans to raise around USD 250 million in the next few months to enhance its operations as the budget carrier deals with various challenges including lessor and debt issues. Singh acknowledged that the airline has faced significant unexpected events but remains committed to overcoming these challenges. SpiceJet recently secured USD 150 million in funding and is seeking additional funds. The airline intends to raise USD 250 million in the near future, and Singh expressed optimism about the airline’s future during the CAPA India Aviation Summit in New Delhi. Currently, the airline has temporarily leased some aircraft due to several of its planes being grounded for various reasons. Singh also emphasized the need for India to have aviation hubs and emphasized the importance of taking necessary steps in this regard.