SpiceJet likely to get Rs 225 crore next week under ECLGS to clear dues

The airline has been making losses for the last 4 years. Moreover, it is currently operating less than 50% flights, following the July 27 order DGCA in the wake of a spate of incidents.

SpiceJet is likely to get around Rs 225 crore next week under the central government's Emergency Credit Line Guarantee Scheme (ECLGS) to clear its dues, sources said on Friday.

The airline has been making losses for the last four years. Moreover, it is currently operating fewer than 50 per cent flights, following the July 27 order of Directorate General of Civil Aviation (DGCA) in the wake of a spate of incidents.

Ajay Singh, SpiceJet's chairman and managing director, had on Wednesday said that the airline will shortly be engaging with investment bankers to raise up to $200 million.

Sources on