The fund infusion will open new avenues for SpiceJet, resulting in a more cash-efficient operation, and expanded fleet and network, Singh had said.
In its latest move, aiming to save about Rs 100 crore on an annual basis, low-cost airline SpiceJet is set to lay off at least 1,000 employees.
On February 13, a spokesperson of the airline SpiceJet confirmed that the manpower rationalisation was part of its cost-cutting strategy, besides ensuring profitable growth.
The airline, which was launched in 2005, currently has around 9,000 employees and 30 planes, 10 of which are wet-leased. In the pre-pandemic year 2019, the airline had a fleet of 118 planes and more than 15,000 employees.
Meanwhile, SpiceJet reduced its net loss to Rs 428 crore in Q2 FY2024, a significant improvement from the net loss of Rs 835 crore in Q2 FY2023.SpiceJet operates about 250 daily flights to 48 destinations within India and to international destinations. Its fleet is a mix of aircraft, including the Boeing 737 Max, Boeing 700 and Q400s.
