Creditors seem to be running out of options to revive the grounded airline, unless SpiceJet can pull off a surprise.
SpiceJet doesn’t come across as a company that is doing well enough to acquire another. The Ajay Singh-led airline hasn’t turned a profit in five years and seems to be struggling to meet its payment obligations. Sure, it may have finally come into some money after the recent fundraising announcement. But the Rs 2,242 crore that it cobbled together from a long list of 64 investors still leaves Rs 10,000 crore of liabilities to be taken care of.
Can it then really acquire Go First, the low-cost airline whose promoter, the Wadia Group, filed for voluntary bankruptcy in May last …
Prince leads the newsroom at The Morning Context as managing editor. A fascination with the written word has taken Prince to some of the leading newsrooms across the country, including The Economic Times, Dow Jones Newswires, Forbes India and Moneycontrol. In a career spanning 20 years, Prince has led teams, managed pages, projects and special editions, and has authored The Consolidators, published by Penguin Random House in 2017.
Managing Editor
prince@mailtmc.com
Mumbai