No question of filing for insolvency, rumours completely baseless: SpiceJet’s Ajay Singh

SpiceJet has denied any plans to file for insolvency and says it is concentrating on reviving its grounded fleet and restoring more planes to the air. The airline has secured $50m to achieve this through the government’s emergency credit line guarantee scheme as well as using internal funds. Last week, the airline declared that it intends to invest INR400 crore ($55m) to resurrect 25 of its grounded planes using this credit line.