SpiceJet plans to revive grounded jets, mobilise funds

Looks like domestic airlines in India are making the most of Go First’ cancelled operations. In a parallel move SpiceJet is planning to revive 25 grounded Boeing 737 and Q400 aircraft and have managed to pull together INR 4000 million for the revival plan. The airline has around 80 aircraft in its fleet. “The revival of the 25 aircraft will be drawn from the government’s Emergency Credit Line Guarantee Scheme (ECLGS) and better cash accruals,” the airline said in a statement. So far SpiceJet has taken around INR 5 bn under the government’s ECLGS scheme. “We are meticulously working towards