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Sunday, 15 February 2015

Spicejet says worst behind it; recapitalisation to begin soon

New Delhi: Going through an ownership change, budget carrier SpiceJet on Friday said it would "very soon" get the first tranche of funds under a recapitalisation process, while plans are being worked out for 'rightsizing' of operations including the headcount.

The carrier is implementing a number of measures such as fleet rationalisation, optimising aircraft utilisation, re-negotiation of contracts and other cost control measures.


Talking about the restructuring plan, SpiceJet Chief Operating Officer Sanjiv Kapoor said, "The first tranche of recapitalisation is imminent".

"It will happen very soon," Kapoor told PTI in an interview.

The Civil Aviation Ministry has approved the revival plan for SpiceJet that would see original promoter Ajay Singh acquiring majority stake and control in the carrier, while outgoing promoters, Maran family, are also pumping in funds.
13/02/15 ZeeNewsSpicejet says worst behind it; recapitalisation to begin soon

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