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SpiceJet shares settle 9% higher on report of likely Rs 1,000-cr govt loan

 Shares of SpiceJet on Thursday ended nearly 9 per cent higher amid reports that the company is expected to receive an additional Rs 1,000 crore as part of the modified ECLGS (Emergency Credit Line Guarantee Scheme). After beginning the trade on a positive note, the stock of the budget carrier further jumped 10.14 per cent to Rs 42.35 during the day on the BSE. It ended at Rs 41.85 apiece, higher by 8.84 per cent. On the volume front, 11.28 lakh shares of the company were traded on the BSE. In the broader market, the 30-share BSE Sensex climbed 156.63 points to settle at 58,222.10. An airline source said SpiceJet is expected to receive an additional Rs 1,000 crore as part of the modified ECLGS. The ECLGS is expected to help SpiceJet, which has been facing turbulent times of late. Ajay Singh, Chairman and Managing Director of SpiceJet, said the speed and urgency with which the aviation and finance ministries have been taking up issues and problems being faced by airlines post Covid
06-10-2022
Bigul

SPICEJET LTD. - 500285 - Closure of Trading Window

 This is to inform that in accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015 read with Company's Code of Conduct for Prevention of Insider Trading, the trading window for dealing in securities of the Company shall be closed with effect from October 1, 2022 for the Designated Persons till the declaration of un-audited financial results of the Company for the quarter and half year ended September 30, 2022 and forty-eight (48) hours thereafter. The date of the Board Meeting of the Company for declaration of un-audited financial results of the Company for the quarter and half year ended September 30, 2022 will be intimated in due course.
30-09-2022

SpiceJet says will hike salaries of senior pilots by 20% from October

 The carrier earlier this week sent 80 pilots on leave without pay for three months to save costs
22-09-2022

SpiceJet reintroduces option to lock fare for 48 hours with 'SpiceLock'

 SpiceJet announced the reintroduction of 'SpiceLock', a unique service that allows passengers to lock their desired fare for 48 hours without name
15-09-2022
Bigul

SpiceJet appoints new CFO

 Prior to this, Ashish served as VP (Head) - Corporate Finance at InterglobeEnterprises
09-09-2022

SpiceJet appoints Ashish Kumar as CFO, effective from September 9

 Budget carrier SpiceJet on Friday said it has appointed Ashish Kumar as its Chief Financial Officer. Kumar's appointment for the post is effective from September 9, SpiceJet said in a statement. Kumar succeeds Sanjeev Taneja, who quit the struggling carrier on August 31. Before joining the Gurugram-based low-cost airline, Kumar was serving as vice president for corporate finance at Interglobe Enterprises since January 2019, SpiceJet said. Previously, he served as Chief Financial Officer at Interglobe Hotels for five years from 2014 to 2018, as per the statement. Facing a liquidity crunch, SpiceJet reported a loss of Rs 784 crore for the quarter that ended June 30, compared to a loss of Rs 731 crore a year earlier. The company had also reported a loss of Rs 485 crore for the quarter ended March. "Restructuring SpiceJet and putting it back on a path of rapid growth is the best job in the aviation industry today. Ashish's experience and proven track record will ensure that he can .
09-09-2022
Bigul

SPICEJET LTD. - 500285 - Appointment Of Chief Financial Officer Of The Company

 This is to inform you that Mr. Ashish Kumar has been appointed as Chief Financial Officer of the Company with effect from September 9, 2022. Please find attached disclosure in terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with press release issued by the Company.
09-09-2022

SpiceJet in dire need of recapitalisation to revive operation: Report

 The carrier has been strong in its pursuit of weathering the storm but it has faced a series of headwinds for more than three years. The company reported huge loss in April-June quarter
05-09-2022

SpiceJet likely to get funds under govt's credit guarantee scheme next week

 SpiceJet, which is facing financial headwinds, is likely to receive around Rs 225 crore under the government's credit guarantee scheme next week, according to a source. Hit by high fuel prices and rupee depreciation, the budget carrier on Wednesday posted a net loss of Rs 789 crore for June quarter and also said its board has approved raising up to Rs 2,000 crore. On Friday, the source said the airline is expected to receive around Rs 225 crore next week under the Emergency Credit Line Guarantee Scheme (ECLGS). Under the scheme, announced in May 2020 in the wake of the pandemic to help various sectors, entities will get credit at a concessional rate of 7 per cent. On August 17, the Union Cabinet approved the enhancement in the limit of ECLGS by Rs 50,000 crore to Rs 5 lakh crore. The additional amount is being earmarked exclusively for enterprises in hospitality and related sectors. The source also said that a new Chief Financial Officer (CFO) is expected to join the airline next
02-09-2022

SpiceJet to receive Rs 225 crore under ECLGS next week

 Earlier this week, Ajay Singh, chairman and largest shareholder of SpiceJet, said the airline is looking to raise Rs 2,000 crore through various means, including a stake sale.
02-09-2022
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