NEW DELHI, Dec 26:
SpieceJet today said it is making efforts to find investors who can recapitalize it even as the troubled airlines has approached the Civil Aviation Ministry requesting deferment of certain dues.
“The airline is presently making efforts to recapitalize and operate at level to bring more efficiency in its operations and has been in discussion with various entities for recapitalization either through debt or equity,” SpiceJet said in its filings to the stock exchanges.
However, it did not disclose the names of these entities stating it would be “inappropriate to name any entity at this stage until definitive and binding arrangements are reached between the parties”.
The airlines which is reported to have piled up dues of over Rs 1230 crore, said it has requested the Ministry of Civil Aviation to consider various aspects of civil aviation sector at a macro level and sought their intervention to allow time to recapitalize . .
The operations of the Maran controlled company were severely impacted during December 15-17, 2014 due to stoppage of fuelling at major airports.
“The matter has now been resolved with the oil companies and the operations have now returned to normal commensurate with its fleet size.’
Reports suggest that former co-founder Ajay Singh is in talks with various entities seeking fresh lease of life for SpiceJet. (AGENCIES)
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