New Delhi: SpiceJet’s current curtailed operations will continue till January 10 without the airline having to pay an airport every time its aircraft lands or takes off.
This follows the airport operators agreeing to provide a 10-day extension to the financially strapped airline. The airline had till midnight Wednesday to clear its outstanding of about ?200 crore to various airports.
What prompted the latest extension was not immediately clear. While Government sources claim that the 10-day extension will be given only against a bank guarantee of around ?180 crore, airline sources deny that any new bank guarantee is being sought by the airports.
A financial crunch has seen the airline’s daily departures drop to 230 flights from 345 in July. SpiceJet’s operations from Delhi, which is a major hub for the airline with almost 20 per cent or over 70 of the 345 daily flights departing from here when the airline was operating all its flights, is unlikely to be affected as SpiceJet is “current” and maintains a bank guarantee with the airport operator, sources indicated.
31/12/14 Business Line
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This follows the airport operators agreeing to provide a 10-day extension to the financially strapped airline. The airline had till midnight Wednesday to clear its outstanding of about ?200 crore to various airports.
What prompted the latest extension was not immediately clear. While Government sources claim that the 10-day extension will be given only against a bank guarantee of around ?180 crore, airline sources deny that any new bank guarantee is being sought by the airports.
A financial crunch has seen the airline’s daily departures drop to 230 flights from 345 in July. SpiceJet’s operations from Delhi, which is a major hub for the airline with almost 20 per cent or over 70 of the 345 daily flights departing from here when the airline was operating all its flights, is unlikely to be affected as SpiceJet is “current” and maintains a bank guarantee with the airport operator, sources indicated.
31/12/14 Business Line
