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India: SpiceJet board to discuss various fundraising options

India: SpiceJet board to discuss various fundraising options Visual from SpiceJet website June 29, 2021 The board of directors of no-frills carrier SpiceJet Limited will meet on Wednesday to discuss various options of raising fresh capital, the airline said in a stock exchange notification. “This is to inform you that that the Board of Directors of the Company in its meeting scheduled on Wednesday, the 30th day of June, 2021, will discuss and consider, interalia, options for raising fresh capital through issue of equity shares/debt instrument on preferential/qualified institutions placement basis….,” the airline said. The fund raising comes amid the coronavirus pandemic that has had an adverse impact on airlines’ operations.

Centre must consider massive financial burden of Air India, should have plan B: CAPA India

Leading consultancy CAPA India on Thursday also emphasised that the government should have a Plan B for the national carrier in place now, which can be immediately operationalised, if required, in face of the prevailing situation

COVID-hit Indian airline IndiGo to weigh raising funds through QIP

COVID-hit Indian airline IndiGo to weigh raising funds through QIP Visual from The Mint May 4, 2021 The board of directors of InterGlobe Aviation Limited, which operates the country’s largest airline IndiGo, will meet on 7 May to consider raising funds through a qualified institutional placement (QIP), the company said in a stock exchange notification on Tuesday. IndiGo had earlier in January shelved plans to raise funds up to ₹4,000 crore ($542 million) through a qualified institutional placement (QIP), opting instead to raise money through sale and lease back (SLB) transactions and other alternative options. QIPs are a way to issue shares to the public without going through standard regulatory compliance, while SLB is a transaction in which the owner sells the aircraft, and then takes it back on lease from the buyer. Such a deal typically removes the aircraft, and its associated debt, from the carrier’s balance sheet.

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