Were rumours of SpiceJet's demise greatly exaggerated?

After teetering on the edge, aviation firm  SpiceJet  is showing early signs of revival. The company, which posted a record Rs 1003 crore loss in FY14 and entered the new financial year with only Rs 5 crore in cash on its hands, has witnessed several pieces of incremental good news recently that suggest the airline may save itself from what was said to be certain collapse. The carrier has offered a 10 percent salary hike to its staff after a gap of three years, the Economic Times reported today quoting sources. This, along with a bevy of good news on the market share and occupancy front, point to an ongoing turnaround at the ailing company.
Over the past few months, the Kalanithi Maran-owned airline has reeled from one bad news to another. The aviation regulator recently launched an audit of the firm after one of its flights was grounded for over five hours owing to what was reported as lack of proper equipment needed for take-off.
Read news in full 08/08/14  Moneycontrol