SpiceJet needs $200-250m to add planes in FY12: CEO

Budget carrier SpiceJet needs USD 200-250 million to fund its purchase of aircraft in 2011/12 and has not yet decided on the mode of funding, its chief executive said on Friday.

May 28, 2011 / 11:48 IST

live

bselive
nselive

Volume

Todays L/H

Budget carrier SpiceJet needs USD 200-250 million to fund its purchase of aircraft in 2011-12 and has not yet decided on the mode of funding, its chief executive said on Friday.

The airline plans to add 11 aircraft and raise the number of flights to 300 per day from 190 now, Neil Mills told Reuters over the telephone.

SpiceJet is a low-cost airline headquartered in Gurgaon, India. It began service in May 2005 and by 2008, it was India's second-largest low-cost airline in terms of market share. SpiceJet was voted as the best low-cost airline in South Asia and Central Asia region by Skytrax in 2007.

first published: May 27, 2011 04:17 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347