SpiceJet to get Rs 500 crore from promoter Ajay Singh
New Delhi, Jul 12 (PTI) SpiceJet on Wednesday said its promoter and Chairman Ajay Singh will infuse Rs 500 crore into the airline, which will help boost its financial position as well as tap additional funds from a government scheme.
The budget carrier, which is facing multiple headwinds, including disputes with aircraft lessors, has been looking to raise funds.
In a statement, SpiceJet said the fresh equity infusion by Singh, who is also the Chairman and Managing Director, will help the carrier in accessing additional credit facilities of Rs 206 crore under the Emergency Credit Line Guarantee Scheme (ECLGS).
