
Akasa Air: The Boy Who Cried Wolf
The newest player in India's high drama-prone aviation sector experiences its most forgettable week in a little over a year of take-off.
The newest player in India's high drama-prone aviation sector experiences its most forgettable week in a little over a year of take-off.
“SpiceJet has complied with the directive of the Supreme Court by remitting $1.5 million to Credit Suisse,” the airline says in an exchange filing.
Delhi HC in last hearing had ordered SpiceJet chief Ajay Singh to pay ₹100 cr to Maran by Sept 10 or warned of attaching airline's assets
Delhi High Court warns Ajay Singh that it may attach the airline's assets if the payment is not made by September 10.
Akasa Air became the fifth largest domestic airline by cornering a market share of 5.2%, defeating the beleaguered low-cost carrier SpiceJet
The low-cost carrier recorded the highest domestic passenger load factor of 90% in the first quarter owing to a strong demand for air travel in India.
The Gurugram-based airline will reportedly issue 3.4 crore equity shares of the face value of ₹10 apiece and 13.5 crore warrants to Spice Healthcare.
During the month under review, the market share of Akasa Air increased from 4.8% in May to 4.9% in June.
Ajay Singh, the promoter of SpiceJet will infuse ₹500 crore by way of subscription to equity shares and/or convertible securities/equity share warrants on a preferential basis.
SpiceJet says the final amount to be paid by either side will be determined by Delhi HC, and that orders in this petition were reserved and are awaited