New Delhi: Cash-strapped airline SpiceJet’s Boeing 737 fleet will be increased to 26 from 19 as soon as the new promoters take control, a senior official of the Ministry of Civil Aviation said on Wednesday. Late last year, the airline had a fleet of 35 Boeing 737 aircraft which allowed it to operate 345 daily flights. But a cash crunch forced the airline to return some Boeing 737s to leasing companies, a move which saw its daily flights decline to 230.
On January 15, to overcome the cash crunch problem, the SpiceJet board decided to transfer ownership, management and control of the airline to former promoter Ajay Singh, as proposed by principal shareholder and promoter, Kalanithi Maran and KAL Airways.
Before the board proposal transferring ownership, management and control of the airline to Singh it was controlled by billionaire Kalanithi Maran’s Sun Group.
21/01/15 Business Line
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On January 15, to overcome the cash crunch problem, the SpiceJet board decided to transfer ownership, management and control of the airline to former promoter Ajay Singh, as proposed by principal shareholder and promoter, Kalanithi Maran and KAL Airways.
Before the board proposal transferring ownership, management and control of the airline to Singh it was controlled by billionaire Kalanithi Maran’s Sun Group.
21/01/15 Business Line
