SpiceJet CEO Ajay Singh stated at the company's annual general meeting on Wednesday that the current financial infusion will help the airline become a stronger and more resilient airline in the country, as well as expand the company's market potential and chances. Furthermore, the new money infusion will aid in the return of its grounded aircraft.

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Singh informed shareholders that the airline has exclusive rights to Lakshadweep under the government's regional connectivity initiative and will soon begin flights to the Union Territory.

As per Singh, Spicejet will soon begin flights to Lakshadweep and Ayodhya, and he also stated that the fresh financial infusion will help the company become stronger.

Addressing shareholders at the company's annual general meeting, Singh also stated that a substantial portion of the money worth Rs 2,250 crore will be used to expand the airline.

According to statistics from the fleet tracking website Planespotter, SpiceJet has 39 aircraft in operation as of January 7, with 26 on the ground.

The airline chief's mention of the Lakshadweep flights comes at a time when India and the Maldives are embroiled in a diplomatic spat.

After Prime Minister Narendra Modi's recent visit to Lakshadweep, some Maldives deputy ministers made disparaging remarks about India. Following that, certain industry associations and travel booking platforms have called for a boycott of the Maldives, which had emerged as a popular destination for Indian leisure visitors following the 2019 outbreak.

Also Read - All roads lead to Lakshadweep! Thomas Cook sees 950% rise, SOTC sees 200% surge in search data related to island travel

 

According to sources close to the airline, Carlyle Aviation Partners, its minority equity partner and worldwide aircraft lessor, has expressed interest in acquiring SpiceJet and its cargo affiliate SpiceXpress.

According to them, the entity is quite interested in the airline and SpiceXpress.

Carlyle Aviation Partners purchased a 7.03 per cent interest in SpiceJet last year.

(With Agency Inputs)