SpiceJet to bring back grounded planes, launch new flights: Chairman

SpiceJet has initiated the process of reviving its grounded planes with the $50 million funds received from the ECLGS scheme and from its internal cash accruals, chairman Ajay Singh told employees on the occasion of the airline's 18th anniversary, adding that the carrier will soon launch new flights on new and exciting routes.

The Emergency Credit Line Guarantee Scheme (ECLGS) was launched in May 2020 as part of Aatmanirbhar Bharat Abhiyaan to support eligible Micro, Small and Medium Enterprises (MSMEs) and business enterprises in meeting their operational liabilities – as well as restarting their businesses in the context of the disruption caused by the Covid-19 pandemic. This scheme covers all sectors of the economy.

As part of its overall growth strategy, a restructuring exercise is currently underway to further reduce the liability which will allow it to pursue its growth targets.

SpiceJet was launched in May 2005. Singh urged employees to remain committed to maintaining the highest standards of services as it looks forward to more exciting years ahead.

In the letter, Singh termed the recent hive-off of SpiceXpress into a separate entity as a defining milestone in its journey.

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