New Delhi: The Centre has given a final chance to cash-strapped SpiceJet to survive, asking the low cost carrier to raise funds within the next 10 days, possibly from promoter Sun Group chief Kalanithi Maran, or face closure.
The respite came on Monday after the SpiceJet management, led by COO Sanjiv Kapoor and Sun Group CFO S L Narayanan, reportedly told aviation authorities it would shut "tonight or in 30 days" unless the Centre saved it fr-om payment demands of oil firms and airport operators.
SpiceJet told minister of state Mahesh Sharma that its immediate cash requirement was Rs 1,400 crore and the overall requirement (including long term) Rs 2,000 crore.
"They have requested for some relief. We'll discuss that with seniors in the government, other ministries like finance and oil and take the issue up to the PMO. However, we have given no assurance to SpiceJet. We will take a final decision keeping wider interest of passengers in mind," Mahesh Sharma said.
16/12/14 Times of India
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The respite came on Monday after the SpiceJet management, led by COO Sanjiv Kapoor and Sun Group CFO S L Narayanan, reportedly told aviation authorities it would shut "tonight or in 30 days" unless the Centre saved it fr-om payment demands of oil firms and airport operators.
SpiceJet told minister of state Mahesh Sharma that its immediate cash requirement was Rs 1,400 crore and the overall requirement (including long term) Rs 2,000 crore.
"They have requested for some relief. We'll discuss that with seniors in the government, other ministries like finance and oil and take the issue up to the PMO. However, we have given no assurance to SpiceJet. We will take a final decision keeping wider interest of passengers in mind," Mahesh Sharma said.
16/12/14 Times of India
