SpiceJet Airline announced on Thursday that it has fully resolved a $90.8 million (Rs 763 crore) dispute with EDC, finalizing the settlement.
SpiceJet’s Chairman and Managing Director Ajay Singh
SpiceJet Limited announced on April 3 that it has separated its cargo and logistics business SpiceXpress into a separate entity — SpiceXpress and Logistics Private Limited — effective April 1.
SpiceJet will be allowed to gradually restore its capacity after proving it has resolved the shortages of staff and spare parts.
Singh is in active talks for a potential stake sale with a Middle Eastern carrier who has showed desire to purchase 24 percent stake and a board seat in SpiceJet
According to Spicejet’s CMD Ajay Singh, banks and shareholders have approved the separation of the cargo and logistics company Spicexpress from the airline.
Airlines declaring fare hikes isn’t the best way to lure potential customers, but surging fuel costs are forcing some to warn their passengers about the inevitable. India’s low-cost carrier SpiceJet has told it’s finding it increasingly challenging to contain ticket costs, adding that passengers could soon bear the burden of costly airline operations.