India's SpiceJet rises on report of securing $90 mln funding

Spicejet

29/01/2024 08:03

** Shares of Indian budget carrier SpiceJet  SPJT.BO  rise
6.2% to 65.40 rupees
    ** SpiceJet receives 7.44 billion rupees ($89.5 million) as
first tranche of funds being raised through preferential share
allotment, according to a PTI report
    ** Airline, in an internal note, says it has substantial
bank balance of more than 9 bln rupees, including 1.6 bln rupees
received as instalment under the government's emergency credit
line guarantee scheme, report adds
    ** SPJT up 14% since Dec. 12, 2023 when it said it would
raise up to $270 mln to help revive its grounded planes
    ** SpiceJet did not immediately respond to Reuters' request
for comment


($1 = 83.1140 Indian rupees)

 (Reporting by Kashish Tandon)
 ((kashish.tandon@thomsonreuters.com))