Per the latest reports, SpiceJet is struggling to continue flying as more financial pressures hit the carrier.
The budget airline based in India has been in court proceedings following money owed to its previous owner.
RS 270 crore is being reported as the initial figure that must be paid to Kalantihi Maran, the Chairman of Sun Group. However, interest has also been added to the initial figure.
At the very least, payment per the latest court notice must be completed before the 10th of September. If this doesn’t occur, Spicejet risks critical assets no longer being in their possession.
SpiceJet has made it abundantly clear as well that it is struggling financially. However, a payment must still be made. While SpiceJet initially wanted to pay a deposit of only 750 million rupees, the returning offer was 1 billion.
The budget carrier has noted that it’ll now pay the amount requested in the timeframe. However, it doesn’t ease pressures on the airline financially in an ever-competitive market.
SpiceJet currently has 34 aircraft in serviced and 24 in storage. However, despite struggling financially, its plans are substantial. With over 100 aircraft on order for future operations, primarily, the carrier will rely on the MAX series to bring it forward.