Mumbai: India's second largest budget carrier SpiceJet, which reported a record Rs 1,003 crore net loss last fiscal, may soon receive the much-needed capital infusion as talks with an overseas investor have reached "very advanced stages".
Media baron Kalanithi Maran-promoted carrier has been in need of cash for quite some time to keep it afloat.
"We are in very advanced stages of a capital infusion discussion with an external entity that when completed will help us clean up our arrears and rebuild with confidence," the airline said in a statement.
According to a recent report by Sydney-based aviation think-tank Centre for Asia Pacific Aviation (CAPA), SpiceJetBSE 3.32 % requires at least Rs 1,200 crore funds to remain in the skies.
20/05/14 PTI/Economic Times
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Media baron Kalanithi Maran-promoted carrier has been in need of cash for quite some time to keep it afloat.
"We are in very advanced stages of a capital infusion discussion with an external entity that when completed will help us clean up our arrears and rebuild with confidence," the airline said in a statement.
According to a recent report by Sydney-based aviation think-tank Centre for Asia Pacific Aviation (CAPA), SpiceJetBSE 3.32 % requires at least Rs 1,200 crore funds to remain in the skies.
20/05/14 PTI/Economic Times
