SpiceJet, a low-cost airline owned by the Sun Group of India, is teetering on the brink of collapse. Within the past few weeks, the airliner has cancelled thousands of flights, infuriating passengers. It has failed to provide a concrete revival plan to the government. But the airline resumed flight operations just after 4pm today.
On Tuesday, SpiceJet had received a bailout package in which it got 15 days to clear Rs 200 crore as dues to the Airports Authority of India, according to The Financial Express. The Civil Aviation Minister, Ashok Gajapati Raju, asked public sector banks to give the airline a working capital loan of around Rs 600 crore, according to the Business Standard. “Ministry request to banks to provide loan is not bailout ‒ loan would be guaranteed by promoter," Sanjiv Kapoor, the airline's Chief Operating Officer, said on Twitter. "Banks are reluctant to lend to airlines.” This loan is in addition to the Oil Ministry asking SpiceJet for a 10-day plan for revival.
With turbulent times ahead for SpiceJet, here is what Twitter users have had to say in the past few days
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On Tuesday, SpiceJet had received a bailout package in which it got 15 days to clear Rs 200 crore as dues to the Airports Authority of India, according to The Financial Express. The Civil Aviation Minister, Ashok Gajapati Raju, asked public sector banks to give the airline a working capital loan of around Rs 600 crore, according to the Business Standard. “Ministry request to banks to provide loan is not bailout ‒ loan would be guaranteed by promoter," Sanjiv Kapoor, the airline's Chief Operating Officer, said on Twitter. "Banks are reluctant to lend to airlines.” This loan is in addition to the Oil Ministry asking SpiceJet for a 10-day plan for revival.
With turbulent times ahead for SpiceJet, here is what Twitter users have had to say in the past few days
Someone just told me that SpiceJet started going downhill ever since their plane hit a buffalo. Karmic revenge?
— Kushan Mitra (@kushanmitra) December 17, 2014This list of cancelled Spicejet flights is like when they used to stick our report card on the college billboard to publicly shame us — Khamba (@gkhamba) December 15, 2014These days SpiceJet flights are like Mumbai Autos. Might just say "nahin jayega" — JaiHind (@ajith27) December 17, 2014Seeing Spicejet passengers verbally destroy ground staff at airports and getting nostalgic about the good ol days of Air Deccan
— Khamba (@gkhamba) December 17, 2014Spicejet should run its planes on road between delhi and gurgaon to save the fuel costs. #BinnesIdea — Buck_LoL (@ProudDilliwala) December 17, 2014Dayanidhi Maran flies to Delhi today. But no, even he wont fly Spicejet. Takes Air India. — T S Sudhir (@Iamtssudhir) December 17, 2014WHy there is need to bailout spicejet? Next month Tata starting its airline. wait for one month :)
— Ban Arnab (@justicearnab) December 17, 2014Kingfisher is gone. Spicejet is almost gone. Now , lets wait for indigo to call it quits. Are we heading to jetpacks now ?
— Winter Singha (@heisenjit) December 14, 2014