SpiceJet’s recent Rs 3,000-crore fundraise has been approved by its shareholders, signaling a bold attempt to revive the airline amid a severe financial crisis. With the aim of stabilising its faltering operations, the airline plans to raise capital through various methods, including a Qualified Institutional Placement. This comes as SpiceJet battles legal disputes, grounded aircraft, […]
In a significant development for the airline industry, SpiceJet has announced the successful resolution of a $49.8 million dispute with Echelon Ireland Madison One Ltd., a move that underscores the airline’s commitment to financial prudence and operational excellence. This resolution results in substantial savings for the airline and strengthens its balance sheet, positioning SpiceJet for […]
Dr. Reddy’s Laboratories said that it has signed a licensing deal with New Jersey-based Slayback Pharma for acquiring rights in the latter’s Brimonidine Tartrate Ophthalmic Solution 0.025%. Brimonidine Tartrate Ophthalmic Solution 0.025% is the private label equivalent of Lumify in the US. Lumify, which is an over-the-counter (OTC) eyedrop, can be used for easing the […]
Indian airline SpiceJet said that it has agreed to offload its cargo and logistics services to its subsidiary SpiceXpress and Logistics Pvt. Limited on a slump sale basis. The transfer of the business will be contingent on the approval of shareholders and other such approvals as needed. The cargo and logistics business of SpiceJet is […]
Indian domestic airline SpiceJet has inked a memorandum of understanding (MoU) with Avenue Capital Group for financing, acquisition, and sale and lease‐back of up to 50 new aircraft to be ordered by the former. The MoU outlines the next steps and conditions under which the US-based Avenue Capital Group will help with placing of SpiceJet’s […]
