Cash-strapped budget airline SpiceJet will receive an additional ₹1,000 crore under the revised Emergency Credit Line Guarantee Scheme (ECLGS) enabling it to “settle the survivability debate”, according to an airline official.
“The additional funding will rejuvenate SpiceJet, help it clear all statutory dues, lessor payments, induct brand new MAX planes, operate a younger fleet which will increase operational efficiency and support cash-profitable operations. The additional funding settles the survivability debate once and for all,” a senior airline executive said.
The airline has already received a credit of almost ₹350 crore under the scheme.
