Finance Desk – SpiceJet, an airline in India, is having a tough time with money problems and other issues. Ajay Singh, who leads the company, is thinking about selling more than 10% of his shares in SpiceJet to get some money. This could even go up to 15% if things work out well.
They are planning to get as much as Rs 2,000 crore from big investors by the end of September. This money will help fix planes that aren’t flying and pay off some debts.
Right now, Ajay Singh and his team own a bit over 47% of SpiceJet. In the past, they had 74 planes, but now they are only flying about 20.
The airline announced on Friday that they want to gather Rs 3,200 crore by selling shares to investors and getting more money from the owner. This money will be used to fix and fly planes that are currently not being used, pay off what they owe, get new planes, and other important things.
