A postal ballot conducted by SpiceJet (SG, Delhi International) has resulted in shareholders approving a proposal to raise up to INR30 billion rupees (USD357.7 million) via the issuance of securities. The scrutineer reported that 1,459 shareholders cast 408,784,445 votes (99.8061% of the total number of votes cast) in favour of the issuance and 109 shareholders cast 794,100 against.
As recently reported by ch-aviation, SpiceJet hopes to use the funds to settle liabilities with existing airframe and engine lessors, unground much of the current fleet, acquire new aircraft, and make statutory payments and settle accounts with key vendors.
Earlier this year, the carrier had hoped to raise INR22.5 billion (USD268 million) through preferential issues but only managed INR10.6 billion (USD126.2 million) after a key investor backed out.
ch-aviation fleets data reveals that thirty-nine of SpiceJet's 61 aircraft are inactive, including three of five B737-700s, three of three B737-700(BDSF)s, five of seven B737-8s, six of seventeen B737-800s, two of three B737-900ERs, and twenty of twenty-four DHC-8-Q400s. SpiceJet says the aircraft are AOG because of unpaid dues and funding shortfalls. The airline maintains services to 41 airports in five countries.
