No-frills service SpiceJet on Friday mentioned the corporate will maintain a board assembly on July 23 to contemplate elevating contemporary capital by means of certified institutional placement (QIP) foundation.
“… A gathering of the Board of Administrators of SpiceJet Ltd might be held on July 23, 2024 (Tuesday), inter-alia, to contemplate and approve elevating contemporary capital by means of subject of eligible securities to certified institutional patrons by means of certified institutional placement…,” the airline mentioned in a regulatory submitting.
In January this 12 months, SpiceJet obtained in-principle approval from the BSE for a fund infusion of Rs 2,242-crore and raised Rs 1,060 crore below preferential subject in two tranches.
The Gurugram-based airline introduced a multi-fold leap in standalone revenue after tax (PAT) to Rs 119 crore for the January-March quarter of 2023-24, over Rs 16.85 crore PAT within the corresponding quarter of the earlier 12 months.
For the total fiscal 12 months 2023-24, the airline posted a lack of Rs 409.43 crore. It had reported a lack of Rs 1,503 crore in FY23.
For the December quarter, SpiceJet reported a loss at Rs 301.45 crore. SpiceJet had posted a revenue of Rs 106.82 crore in FY23.
The airline has been struggling to maintain afloat for a lot of quarters now and has reportedly not deposited the Worker Provident Fund Contributions to its 11,581 workers since January.
As on July 19, as many as 33 plane — 15 Boeing 737 and 18 regional jets Q400 — have been on floor, owing to a number of causes, as per the plane fleet monitoring web site planespotter.Web.
SpiceJet has a complete of 60 planes, which embrace 32 Boeing 737 and 24 Q400.
In addition to, it additionally has two Airbus 340 and two Airbus A320, that are on wet-lease.
