Media baron Kalanithi Maran-promoted carrier has been in need of cash for quite some time to keep it afloat.
"We are in very advanced stages of a capital infusion discussion with an external entity that when completed will help us clean up our arrears and rebuild with confidence," the airline said in a statement.
According to a recent report by Sydney-based aviation think-tank Centre for Asia Pacific Aviation (CAPA), SpiceJet requires at least Rs 1,200 crore funds to remain in the skies.
Meanwhile, the airline in a statement said it has promoted Kamal Hingorani as senior vice-president and head of customer experience, besides hiring Ashwin Noronha as the head of ground and airport services.
Currently, Hingorani is SVP and heads ground and airport services. In his new role, Hingorani will have the in-flight, catering, and customer relations teams reporting to him. He will also be responsible for customer interface training for ground and airport services (including security) in addition to inflight services department.