GUIDANCE AND STRATEGIC ISSUES IN FY2024

MID-TERM OUTLOOK TO FY2030

FOR SPICEJET, 737 MAX’S GROUNDING WAS BIGGER DISASTER THAN COVID

SpiceJet had placed an order for 155 Max planes in 2017, and at the time of grounding in March 2019, it had 12 of them in its fleet.

SpiceJet’s DNA is to never sit and pity itself, and it always wants to move forward, Singh said. “It is the DNA of SpiceJet: We refuse to die,” he said.

Presently, it was focused on reducing debt, and he assured the audience at the CAPA meet that the airline will show a vastly different balance sheet over the next few quarters. SpiceJet has been dealing with a shortage of funds, leading to delays in payment of dues to lenders such as aircraft lessors. Recently, it restructured its dues of more than $100 million to Carlyle Aviation by giving them a 7.5 per cent stake. He said he was open to similar arrangements to tide over other outstanding dues, to deleverage its balance sheet.