SpiceJet troubles mount, board to weigh fundraise on Nov 18

NewsIndia NewsSpiceJet troubles mount, board to weigh fundraise on Nov 18 NEW DELHI: Cash-strapped SpiceJet's troubles have mounted to a level where the airline carrying on its skeletal operations without a fresh infusion of funds may soon become difficult.The low cost carrier Friday informed BSE its board will meet on Nov 18 "to consider and approve the proposal for raising of fresh capital by way of issuance of equity shares, preference shares..."Once again company sources have claimed there are two investors eying the airline.

Whether this goes through and if there's a change of promoters and management - something the airline has seen multiple times in its turbulent life - remains to be seen.Join conversation InsightfulAgreeDisagreeSkepticalConcerningPromisingWorth ReadingBig Development SpiceJet's intimation to BSE came after multiple developments like Dubai Airports that operates Dubai International and Al Maktoum airports stopping its check-in services for SpiceJet over non-payment of about Rs 36 crore.

On Thursday, its four flights to Amritsar, Jaipur, Mumbai and Delhi were cancelled due to non-payment to ground-handling company dnata. These aircraft operated to India without passengers.On the Dubai issue, the airline spokesperson said the company is "in the process of resolving the matter.

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