Ajay Singh – SpiceJet will not file for insolvency, all rumours baseless

SpiceJet has no plans to file for insolvency proceedings and has already started the process of revival of the grounded fleet with $50 million. This announcement from the airline comes at a time Indian aviation is going through turbulent phase with Aircastle moving to National Country Law Tribunal (NCLT) against SpiceJet while Go First filing for bankruptcy. “We want to scotch any speculation that may have arisen due to the filing by another airline. The airline is firmly focussed on its business and remains in active talks with investors to raise funds,” the airline said in a statement. The NCLT