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.
