Spicejet: Spicejet, a company providing cheap airlines service in the country, may prepare to save more shares in the coming times. The company’s Managing Director and Chairman Ajay Singh has said that SpiceJet wants to settle its liabilities as soon as possible. In such a situation, the company may consider selling more shares in future.
According to the report published in Live Mint, Ajay Singh has said that we are adopting an attitude of flexibility to sell our stake in the airlines. But for this the company will have to hold talks with all its stakeholders. The company’s emphasis is also on increasing its profit, so that it can further invest in the growth of the airlines. Ajar Singh has said all these things in the CAPA India Aviation submit.
The company made profit in the December quarter
Earlier, SpiceJet had registered profit in the December quarter. The net profit of the company has increased by a total of 4 times and has increased to Rs 106.8 crore. The biggest reason for this is that a huge increase was registered in the number of people traveling by air in the quarter of December. In such a situation, due to the increasing demand, an increase in the profits of the airlines companies has also been recorded. It is worth noting that the total liabilities of SpiceJet are Rs 14,000 crore. In such a situation, the company is continuously trying to restructure the loan by negotiating with its borrowers. Along with this, the company is trying to reduce its debt by selling its stake.
SpiceJet Cargo to operate as a separate entity
Ajay Singh said that Spice Express, the cargo unit of our airlines, will now work as a separate unit from April 1. Spice Express will pay the liability of many business companies by sending the goods. This will reduce the total debt of the company. During the Corona period, the debt of many companies on the company had increased further, which the airlines are now trying to reduce in different ways. Ajay Singh K said that apart from the Corona period, the grounding of Boeing Max Fleet after two plane accidents has caused huge losses to the company. This grounding has been more damaging for SpiceJet than the Corona period.
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