"It was a constructive meeting," chief operating officer Sanjiv Kapoor told reporters after meeting civil aviation secretary V. Somasundaran here today.
He was accompanied by airline co-founder Ajay Singh, who has proposed to invest $200 million along with US-based JP Morgan Chase.
Officials said SpiceJet wanted the time limit for paying statutory dues to be extended from December 31 as the revival plan was still on the drawing board. Singh and foreign funds are yet to come to a final agreement with the airline's current owners.
Kapoor, however, said the airline had paid employees' salaries for November and cleared dues to fuel companies as of Friday. Cash-starved SpiceJet had delayed employees' salaries for November and briefly grounded its fleet this month.
Kapoor said SpiceJet had "no outstanding" as of now with any oil marketing company. It has 18 operational Boeing aircraft and is plying 230 flights a day.
"SpiceJet has many well-wishers, including Ajay Singh," the chief operating officer said. SpiceJet has bank loans of Rs 300 crore against collateral, he added.
Besides Singh, a fund managed by JP Morgan Chase will be one of the investors. The potential investors are likely to buy stake from current promoter Kalanithi Maran by infusing $200 million within a month to help the airline stay afloat.
Its majority owner, billionaire Maran's Sun Group, has said it cannot afford a bailout. At present, promoters hold about 48.59 per cent in the airline, with Kalanithi Maran personally holding 16.27 per cent of the shares.
27/12/14 Telegraph India
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He was accompanied by airline co-founder Ajay Singh, who has proposed to invest $200 million along with US-based JP Morgan Chase.
Officials said SpiceJet wanted the time limit for paying statutory dues to be extended from December 31 as the revival plan was still on the drawing board. Singh and foreign funds are yet to come to a final agreement with the airline's current owners.
Kapoor, however, said the airline had paid employees' salaries for November and cleared dues to fuel companies as of Friday. Cash-starved SpiceJet had delayed employees' salaries for November and briefly grounded its fleet this month.
Kapoor said SpiceJet had "no outstanding" as of now with any oil marketing company. It has 18 operational Boeing aircraft and is plying 230 flights a day.
"SpiceJet has many well-wishers, including Ajay Singh," the chief operating officer said. SpiceJet has bank loans of Rs 300 crore against collateral, he added.
Besides Singh, a fund managed by JP Morgan Chase will be one of the investors. The potential investors are likely to buy stake from current promoter Kalanithi Maran by infusing $200 million within a month to help the airline stay afloat.
Its majority owner, billionaire Maran's Sun Group, has said it cannot afford a bailout. At present, promoters hold about 48.59 per cent in the airline, with Kalanithi Maran personally holding 16.27 per cent of the shares.
27/12/14 Telegraph India
