SPICEJET DELAYS REGIONAL FLIGHTS UNTIL Q400S ARE DELIVERED

Dino D'Amore
By Dino D'Amore July 12, 2011 15:28

SPICEJET DELAYS REGIONAL FLIGHTS UNTIL Q400S ARE DELIVERED

SpiceJet is delaying the launch of its regional operations by a month until it has clearance of $250-million funding from the Reserve Bank of India for its Bombardier Q400 aircraft.

Regional services were expected to begin on July 15, but the airline is awaiting confirmation of its funding requirements from RBI and the Export Development Canada (EDC) for all 15 of its Bombardier Q400s aircraft.

“We were not able to close commercial terms with EDC on time as we were negotiating the best agreement with them. The clearance from the RBI has been sought only 10 days ago and the launch of operations will depend on when the clearance comes,” said SpiceJet CEO Neil Mills.

“This has lead to a delay of about three to four weeks and now we are targeting the launch of our regional operations by the end of August instead.” Dismissing any hurdles faced by the no- frills carrier in getting approvals from the RBI, the SpiceJet honcho said it is a normal regulatory procedure. “We are doing nothing exceptional so as to delay a clearance from the RBI,” he said.

Dino D'Amore
By Dino D'Amore July 12, 2011 15:28
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