The SpiceJet share price rose 3 percent in the morning trade on August 24 after the low-cost airline said it was looking to raise funds and ahead of the board meeting to consider Q4FY22 earnings.
SpiceJet was looking for investments from external parties, including airlines, and also planned to add seven more Boeing aircraft to its fleet, the carrier's chief Ajay Singh said on August 23.
In recent months, SpiceJet has faced turbulence—especially with many of its flights suffering technical snags—and subsequently, the airline faced actions from the aviation regulator Directorate General of Civil Aviation (DGCA).
"We are doing it by way of the government-supported scheme ECLGS, getting new aircraft from Boeing and therefore through the SLB process, exploring options for fundraise… we are exploring all options," Singh said.
Singh also said the airline was looking at investments from external parties, including airlines. Without sharing the details, he said the carrier would do everything to ensure it remains a strong and vibrant player.
The shareholders of SpiceJet, a listed company, have approved fundraising of Rs 1,500 to Rs 2,000 crore and some of the amount had already been raised, Singh said.
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A meeting of the company's board would be held on August 31, 2022, to consider and approve the audited standalone and consolidated financial results for the fourth quarter and financial year ended March 31, 2022 along with unaudited standalone and consolidated financial results for the first quarter ended June 30, 2022.
At 10.14 hours, SpiceJet was quoting at Rs 46.70, up Rs 0.45, or 0.97 percent on the BSE.
(With inputs from PTI)
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