New Delhi: On the path to revival, SpiceJet has managed to slash its debt burden by nearly Rs 1,200 crore to Rs 800 crore in the last one year, according to the airline's chief Ajay Singh.
Singh, who took over the reins of then crisis-hit SpiceJet early last year, said the turnaround process has taken off "very well".
Riding on the back of four straight quarters of profit, SpiceJet is slowly moving from consolidation to expansion path and is preparing to trim costs in the long term.
Riding on the back of four straight quarters of profit, SpiceJet is slowly moving from consolidation to expansion path and is preparing to trim costs in the long term.
"The airline has cut down its debt burden by Rs 1,200 crore to Rs 800 crore in the last one year. The amount stood at around Rs 2,000 crore a year ago," he told PTI.
The chairman and managing director of the carrier emphasised that there is enough positive cash flow now. "In terms of capital expenditure, the airline is comfortably placed," he added.
To Read the News in Full 29/01/16 PTI/Economic Times
Singh, who took over the reins of then crisis-hit SpiceJet early last year, said the turnaround process has taken off "very well".
Riding on the back of four straight quarters of profit, SpiceJet is slowly moving from consolidation to expansion path and is preparing to trim costs in the long term.
Riding on the back of four straight quarters of profit, SpiceJet is slowly moving from consolidation to expansion path and is preparing to trim costs in the long term.
"The airline has cut down its debt burden by Rs 1,200 crore to Rs 800 crore in the last one year. The amount stood at around Rs 2,000 crore a year ago," he told PTI.
The chairman and managing director of the carrier emphasised that there is enough positive cash flow now. "In terms of capital expenditure, the airline is comfortably placed," he added.
To Read the News in Full 29/01/16 PTI/Economic Times
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