SpiceJet Board Adjourns Meeting; To Discuss Funding Plans On Tuesday
The airline has been grappling with multiple headwinds, including issues with aircraft lessors and financial woes.
Crisis-hit SpiceJet's board of directors will continue to discuss fundraising plans on Tuesday after it could only partially complete the agenda items on Monday.
On Monday, the no-frills airline's shares touched a 52-week high and ended with more than 10% gains on the BSE as investors were enthused by funding plans and the proposal to list the company's securities on the National Stock Exchange (NSE).
In an evening filing to the BSE, SpiceJet said its board on Monday "could only partially complete the agenda items and the meeting has now been adjourned to Dec. 12, 2023 (Tuesday)".
Apart from options for raising fresh capital through the issue of equity shares and/or convertible securities on a preferential basis, the board will also consider the September quarter results, as per the filing.
Earlier in the day, shares of SpiceJet touched its 52-week high and closed with a gain of 10.19% at Rs 60.57 apiece on the BSE.
The airline has been grappling with multiple headwinds, including issues with aircraft lessors and financial woes.
In October, SpiceJet had a domestic market share of 5% and carried 6.28 lakh passengers.
