SpiceJet says no plans to seek insolvency proceedings; starts process to revive grounded planes with USD 50 mn
New Delhi, May 11 (PTI) Budget carrier SpiceJet on Thursday said it has no plans to file for insolvency proceedings and has also started the process of reviving its grounded fleet with USD 50 million.
The statement from SpiceJet comes at a time when a lessor has filed an insolvency resolution plea against the airline and crisis-hit rival Go First being admitted for voluntary insolvency resolution proceedings by the National Company Law Tribunal (NCLT) on Wednesday.
While citing the recent developments in the Indian aviation market, SpiceJet said it has no plans whatsoever to file for insolvency.
