SpiceJet says no plans to file for insolvency


BENGALURU: Indian low-cost airline SpiceJet Ltd said on Thursday it had no plans to file for bankruptcy, allaying fears of contagion from the competitor Go Airlines (India)s voluntary bankruptcy admission.
“We want to dispel any speculation that may have arisen as a result of another airline’s filing,” SpiceJet said in a statement, adding that it is still in talks with investors to raise funds.
The Gurugram-based airline also said it has begun reviving 25 of its grounded fleet with its own money and a $50 million line of credit under an Indian government program secured on Thursday.
Earlier this week, SpiceJet’s lessors attempted to deregister at least four aircraft, according to documents on India’s aviation regulator’s website.
Meanwhile, the breakup pro of rival Go Airlines, recently announced as Go aheadsaid it needs to raise funds to revive the bankrupt company, a source with direct knowledge of the matter told Reuters.
Go First was granted bankruptcy protection on Wednesday, a move that worries landlords even more as they filed requests with the Directorate-General for Civil Aviation to return about 40 aircraft after rent payments failed.

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