SpiceJet board to meet on July 12 to consider options for raising fresh capital

In May, SpiceJet clarified and assured investors that it has no plans of filing for insolvency even as it faces a financial crunch. “There is absolutely no question of filing for insolvency. Any rumours regarding the same is completely baseless. We are focussed firmly on reviving our grounded fleet and getting more and more planes back into the air,” Ajay Singh, Chairman and Managing Director, was quoted as saying in a media release.