INSUBCONTINENT EXCLUSIVE:
Spicejet(Photo: Shutterstock)3 min read Last Updated : Oct 09 2024 | 12:29 AM IST
SpiceJet has informed the Directorate General of Civil
Aviation (DGCA) that it will spend Rs 400 crore within the next two years to bring its 36 grounded planes back into service, sources told
Business Standard.
The regulator summoned the airline for a meeting last Friday to discuss its plans to get grounded planes back to
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This followed the airline's recent Rs 3,000 crore fund-raising through a qualified
institutional placement (QIP) from global investors and mutual funds, sources said
of its 58 aircraft were grounded
This was mainly due to alleged payment defaults to lessors, financial challenges impacting aircraft maintenance, and shortages of
components.
Sources said the airline informed the regulator that seven of the 36 grounded planes would return to service by the end of the
into service, the airline on Tuesday announced that it will lease seven planes to boost its flight operations immediately
These seven leased planes will be inducted into the fleet by November 15, it added.
Sources said that the grounded planes of the carrier
will undergo return-to-service (RTS) procedures mandated by aircraft makers like Airbus and Boeing.
Once the RTS process is completed, the
DGCA will allow the planes to conduct commercial passenger flights.
In aviation, RTS refers to the process of bringing an aircraft back
into operation after being grounded
This involves performing necessary maintenance or repairs, conducting thorough inspections, and ensuring regulatory compliance.
The
aircraft may undergo flight tests before receiving certification from the DGCA, confirming its airworthiness and readiness to re-enter
commercial service.
The recent fundraise has provided a lifeline to the airline, which has been grappling with losses for the past six
It was struggling to pay staff salaries and clear statutory dues like provident fund (PF) and goods and services tax (GST).
The cash
shortage has severely impacted the airline's operations.
According to aviation analytics firm Cirium, SpiceJet is operating 922 flights
This is 78 per cent fewer than its services during the same month five years ago.First Published: Oct 08 2024 | 6:44 PMIST
