SpiceJet plans to raise $150 million: Report

SpiceJet is reportedly planning to raise $150 million in debt or equity and is in discussions with private equity firms and banks for the same. The funds will be used as working capital and to repay dues.

SpiceJet underwent a change in ownership in January with founder-promoter Ajay Singh stepping in as chairman. It then received Rs 400 crore infusion and is undergoing fleet expansion after a difficult winter season, which saw grounding of aircraft, curtailment of schedule and cancellation of flights.

SpiceJet is India’s most preferred airline who delivers the lowest air fares with the highest consumer value. The airline currently operates flights to over 44 Indian cities and 9 international destinations.