New Delhi: Loss-ridden SpiceJet has cancelled over 40 daily flights as its fleet of Boeing 737s is down to 28 (two of which are grounded, including the buffalo-hit one in Surat) from the summer high of 35. Concerned at the fallout for passengers, who have booked in advance, the directorate general of civil aviation called the airline management on Monday evening to find the exact number of cancellations and to tell the low-cost carrier to make alternate arrangements for flyers.
While admitting that "recapitalization is key", airline COO Sanjiv Kapoor said the number of Boeings — and hence flights — will increase to 35 by the year-end. "We are restructuring our fleet and returning some old planes, due to which the schedule has been changed. This is all short term restructuring," Kapoor said.
"It is not correct to compare us to Kingfisher. We are paying salaries on time; all our tax issues (referring to TDS and service tax dues) have been cleared and we have among the highest load factors and enjoy a very good market share. Our revenue is $1 billion and market capitalization is $140 million," said Kapoor, while terming the auditor's caution as a "technical observation".
19/11/14 Times of India
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While admitting that "recapitalization is key", airline COO Sanjiv Kapoor said the number of Boeings — and hence flights — will increase to 35 by the year-end. "We are restructuring our fleet and returning some old planes, due to which the schedule has been changed. This is all short term restructuring," Kapoor said.
"It is not correct to compare us to Kingfisher. We are paying salaries on time; all our tax issues (referring to TDS and service tax dues) have been cleared and we have among the highest load factors and enjoy a very good market share. Our revenue is $1 billion and market capitalization is $140 million," said Kapoor, while terming the auditor's caution as a "technical observation".
19/11/14 Times of India
