SpiceJet Board To Discuss Capital Infusion Options In Upcoming Meeting on July 12

SpiceJet, one of India's leading low-cost airlines, is set to hold a board meeting on July 12 to discuss potential avenues for raising fresh capital through the issuance of equity shares.

According to the filing, the board's approval will be subject to shareholder approval and any other regulatory approvals.

SpiceJet reaffirmed and reassured investors in May that despite its financial difficulties, it has no intention of declaring bankruptcy.

The low-cost carrier announced in June that four of its grounded aircraft-two Boeing 737s and two Q400s-had returned.

The airline recently notified on entering into a settlement deal with Nordic Aviation Capital (NAC), a significant lessor for its Q400 aircraft, where it cleared all prior liabilities for the Q400s planes leased by NAC to SpiceJet. The airline now has five Q400 planes from NAC in its fleet.

SpiceJet, a prominent airline, operates an extensive network of approximately 250 daily flights serving 48 destinations across India and abroad. Its fleet comprises various aircraft models, including the Boeing 737 Max, Boeing 700, and Q400s, as stated by the company. However, despite its operational presence, SpiceJet's shares have witnessed a decline in value over the past year.