SpiceJet rejects KFA comparison

Aviation regulator directorate general of civial aviation(DGCA) could also be ascertaining from SpiceJet as to how many flight cancellations per day are being resorted to, along with details of the financial liabilities of the airline.

The airline had suffered a loss of Rs 310 crore in the second quarter of the current financial year.

Amid speculation that at least Rs 1,000 crore would be required as part of the recapitalisation process, SpiceJet officials said a “reasonable sum of money” would be required.

The promoters are understood to have pumped in about '250 crore into the airline this fiscal so far, and a total of Rs 600 crore in recent times. SpiceJet officials said their airline was “not going the Kingfisher way” and pointed out that before the halt of operations by Kingfisher, that airline had not paid salaries for some time.

SpiceJet has been paying salaries on time and all issues with tax authorities had been sorted out, the officials added. SpiceJet officials said about half the benefit arising from lowering of global oil prices had been passed on to consumers, adding that the aviation ministry is likely to take up the matter with the petroleum ministry.