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SpiceJet Eyeing Mid-October Recovery? Focus Shifts To 20 Wet Leases, Rs 350-Crore ECLGS

Spicejet is also facing a major financial crunch, as it is yet to disburse salaries to its employess in the past three and a half months

SpiceJet's senior officials are deliberating fund raising strategies.
Photo Source: NDTV Profit

SpiceJet is expected to improve its operations by the middle of October, according to sources in the know cited by NDTV Profit. The company plans to wet-lease 20 aircrafts in order to do so. The firm is also facing a major financial crunch, as it is yet to disburse salaries to its employees in the past three and a half months. Several of its flights have been cancelled and delayed over the past few months.

The company's senior officials are deliberating fundraising strategies while it is awaiting Rs 350 crore from Emergency Credit Line Guarantee Scheme 5.0. With select aspects of the airline's operations expected to improve from it.

ALSO READ: SpiceJet Flights Hit By Operational Disruption In Delhi; Airport Teams Step In To Assist Passengers

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Several SpiceJet flights at Delhi's Indira Gandhi International Airport were delayed or cancelled on Saturday due to operational disruptions, affecting scores of passengers. Delhi Airport had said its teams were coordinating with the low-cost carrier and other stakeholders to assist those affected.

On Sept.15, around 200 SpiceJet passengers protested at the Delhi airport as their flights to Dubai were rescheduled multiple times and faced inordinate delay since Monday, according to PTI.

Two flights SG 5111 and SG 5105 were scheduled to depart for Dubai in the morning and evening on Monday, respectively. However, the departures were rescheduled. Many passengers are stuck at the airport.

"SpiceJet flights SG 5111 and SG 5105, operating from Delhi to Dubai, have been delayed due to operational reasons following the grounding of an aircraft," reported PTI.

ALSO READ: SpiceJet Gets Relief As NCLT Defers Orders On Eight Insolvency Petitions

"Alternate flights are being arranged to accommodate the affected passengers, and the airline is making every effort to minimise the inconvenience caused," the airline spokesperson said in a statement.

Last week, Civil Aviation Minister K Rammohan Naidu told PTI that the civil aviation ministry and regulator DGCA were closely watching the financials and operations of SpiceJet.

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