Creditors seem to be running out of options to revive the grounded airline, unless SpiceJet can pull off a surprise.
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After two consecutive quarters of profit, the Ajay Singh-led airline is still struggling to pay its employees and vendors. There’s more to it than meets the eye.
Over the past few years, airfares have increased in India and competition has reduced, which has likely given IndiGo an edge with its market dominance.
It was hoped that the lawmakers would factor in the interests of aircraft lessors in case of defaults. Instead, the Bhartiya Vayuyan Vidheyak Bill, 2024 has turned out to be a damp squib.