Idfc, Indian Bank, Yes Bank Put Spicejet Loans On High: risk- sources

Jet Airways (India)

08/08/2022 10:34

By Nupur Anand and Aditi Shah
    MUMBAI, Aug 8 (Reuters) - Private lenders IDFC First Bank
 IDFB.NS  and Yes Bank  YESB.NS  and state-owned Indian Bank
 INBA.NS  have put their loans to SpiceJet Ltd in the high-risk
category, in the latest setback for the airline, people with
knowledge of the matter said.
    The lenders are concerned about SpiceJet's  SPJT.NS  cash
flows and have held discussions seeking assurances from the
Indian budget carrier, as it is behind on payments to some
aircraft lessors, the sources said. 
    SpiceJet said that no bank has put its account on high
alert. 
    "Loans are being serviced as per the agreed terms. We are
not aware of any bank having any 'concern' nor has there been
any communication regarding the same to SpiceJet," a company
spokesperson told Reuters in an email.
    The banks did not immediately respond to Reuters' requests
seeking comment.

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India’s SpiceJet airline faces multiple technical malfunctions  
 https://tmsnrt.rs/3Sbz1Rh
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 (Reporting by Nupur Anand in Mumbai and Aditi Shah in New
Delhi; Additional reporting by Jamie Freed in Sydney; Editing by
Miyoung Kim and Louise Heavens)
 ((Nupur.Anand@thomsonreuters.com; +9122 68414388;))