Low-cost carrier SpiceJet has sought six weeks' time from the Aviation Ministry to stay afloat and find a strategic investor for the airline, reported ET Now.
According to ET Now, SpiceJet management met the Aviation Minister and Secretary last week and asked for time to find an investor. "They (SpiceJet management) have sought help of Aviation Ministry in getting moratorium period extended from the different agencies like Airport Authority of India," ET Now said.
"Airport Authority of India (AAI), that runs most of the airports in the country, has put SpiceJet on cash and carry model. This means that SpiceJet must pay first and fly. AAI is now ready to help SpiceJet by giving them one week of moratorium period provided they give bank guarantee," ET Now reported.
05/12/14 Economic Times
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According to ET Now, SpiceJet management met the Aviation Minister and Secretary last week and asked for time to find an investor. "They (SpiceJet management) have sought help of Aviation Ministry in getting moratorium period extended from the different agencies like Airport Authority of India," ET Now said.
"Airport Authority of India (AAI), that runs most of the airports in the country, has put SpiceJet on cash and carry model. This means that SpiceJet must pay first and fly. AAI is now ready to help SpiceJet by giving them one week of moratorium period provided they give bank guarantee," ET Now reported.
05/12/14 Economic Times
