SpiceJet clears outstanding dues, reverts to advance payments for daily operations

Indian low-cost carrier SpiceJet said on Tuesday it had cleared all its outstanding principal dues with the Airports Authority of India, which owns and operates airports in the country.

The airline will revert to advance payment mechanism for its daily operations, it added.

This comes days after the aviation regulator ordered the low-cost airline to slash its approved fleet to 50 per cent this summer for eight weeks, citing safety snags.

The budget airline holds nearly 10 percent of India's domestic market and operates a fleet of about 80 narrow-body aircraft, more than half of which are Boeing 737 variants.

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