Odisha News Insight

SpiceJet Flights grounded across India

spicejetIn a significant development, the flight operation of cash-strapped SpiceJet were grounded on Wednesday across India since oil marketing companies reportedly denied to supply fuel the company.

According to media reports, none of the flights of the aviation company, SpiceJet has taken off since Wednesday morning, till this report is filled.

The decision on the resumption of jet fuel supply to the company was put on hold by the company, which could avail the company two-week credit facility.

SpiceJet Ltd had sought help of the government to bail out from the crisis by admitting that it would not be able to run its operation, on Tuesday

On Tuesday, DGCA the aviation regulator, giving relief to the company removed the 30-days booking restriction on SpiceJet airlines, besides the government ruling out any help to the carrier.

The Civil Aviation Ministry had urged the oil companies and airport operations to extend 15-day credit facility to SpiceJet on Tuesday, and the ministry may request Indian banks and financial institutes to extended loans of upto Rs 600 crore to SpiceJet.

Having 17 per cent domestic market share, SpiceJet company had 48 aircraft — 33 Boeing 737s and 15 Q-400 regional jets. And the company was operating only 35 out of total 96 planes, considerably reducing its fleet due loss on regular basis

The airline company, SpiceJet has been grapple with operations issue due to cash crunch.

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