SpiceJet No Longer Operates on ‘Cash and Carry’ Basis; Clears All Outstanding Principal Dues of AAI

SpiceJet in a press release has clarified that it has entered into a full & final settlement with the Airports Authority of India (AAI) and also, cleared all outstanding principal dues of the airport operator. In another big boost for the airline, AAI will release SpiceJet’s Rs 50 crore bank guarantee.

Web Stories

Spicejet clears outstanding dues AAI

SpiceJet has been in the news for various reasons for the past few months. If we observe, SpiceJet has been overcoming every hurdle one after other and the current statement by SpiceJet is an affirmation of the same. The observations made by DGCA on measures taken by SpiceJet in its interim order are also positive signs that SpiceJet is working on fixing things and working closely with DGCA.

Spicejet clears outstanding dues AAI:

In a press release, SpiceJet has clarified that it has entered into a full & final settlement with the Airports Authority of India (AAI) and also, cleared all outstanding principal dues of the airport operator.

No Longer Remain on 'Cash and Carry':

With this, SpiceJet will no longer remain on ‘cash and carry’ at AAI-run airports across the country; instead, revert to advance payment mechanisms for daily flight operations. Its ability to clear the pending dues reflects the airline’s improved cash flow in recent times.

AAI to release SpiceJet's BG:

In another big boost for the airline, AAI will release SpiceJet’s Rs 50 crore bank guarantee, following the airline clearing all its principal dues. This will result in additional liquidity for the airline.

SpiceJet has flown with the highest passenger load factor in the Indian skies for a record seven years. Starting April 2015, SpiceJet has recorded the highest occupancy among all Indian domestic airlines, a feat unparalleled in global aviation. The airline also holds the envious distinction of having flown with a passenger load factor (PLF) of more than 90 per cent for a record 58 consecutive months.

SpiceJet Statement on 1st August 2022:

SpiceJet flight operations remain absolutely normal. All our flights have departed on time, as per schedule today and there have been no cancellations. We are operating with excellent loads and the daily ticket bookings remain strong. Our load factor on July 30th and 31st was 81% and 82.4 respectively. SpiceJet is grateful for the continued confidence reposed by our passengers and travel partners and we are confident of scaling up our operations and addressing any concern that the regulator may have, on priority.

Indian Aviation Sector Absolutely Safe, No Need to Panic: DGCA

With DGCA affirming the highest safety standards being followed in Civil Aviation Space, rest assured we are in safe hands.

Reported By

Analyst

A Hodophile who enjoys Nature, Food & Technology. At AviationScoop, I focus on #Aviation - Apps, Technology, Consumer, Luxury and Travelling Experience.

Recent Comments

  • No Most discussed posts - 1 week ago....!

Tech News

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments