Can't invest large sums to revive SpiceJet: Sun Group

Discussion in 'Politics & Society' started by sasi, Dec 17, 2014.

  1. sasi

    sasi Senior Member Senior Member

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    NEW DELHI: The parent of India's loss-making SpiceJetLtd cannot make large investment into the carrier and can do no more than provide a guarantee for a bank loan needed to keep the airline from collapsing, said Sun Groupchief financial officer.
    "We do not have the liquidity to invest large sums at the time which is why we need bank financing. For which the promoters are willing to provide a guarantee. We cannot do more than this," S.L. Narayanantold Reuters on Wednesday.
    SpiceJet was forced to ground its entire fleet on Wednesday after oil companies, which are owed money by the airline, refused to refuel its planes.
    On Tuesday, the civil aviation ministry said airport operators would be asked to give the airline 15 days to make payments, while state oil companies would be ask to give credit for up to 15 days.
    The measures, the ministry said, were aimed at avoiding a collapse which it said would be a "major setback" for the civil aviation sector.

    http://t.co/oc7zP2ZtMV
     
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  3. sasi

    sasi Senior Member Senior Member

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  4. sasi

    sasi Senior Member Senior Member

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    Important things are-Personal guarantees hve rarely been enforced-Banks wants to have nothing to do with Maran but Govt arm twisting!

    Imposed by Civil aviation/Fin min!
     
  5. Ray

    Ray The Chairman Defence Professionals Moderator

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    It is good that fat cats of politics who have had a free run so far, are being run in.

    Madan Mitra and the TMC, the Marans, and others.

    The Herald case is on, Chidambaram has been questioned by the CBI and now MMS is to be quizzed on the Coal Scam.
     
  6. sasi

    sasi Senior Member Senior Member

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    come on Ray ji,trial court,hc,sc it will take min 30yrs!

    I prefer Better karuna,pawar,lalu,muly,sonia,farooq die for larger public good! They outliving their quota!

    Ps- can u tell me,how many total left MPs in RS? Also in wb assembly!
     
    Last edited: Dec 17, 2014
  7. anoop_mig25

    anoop_mig25 Senior Member Senior Member

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    if GoI is forcing then where is aap ?? they should have PILed about in court

    i am asking for app because not other political parties would do anything


    why not close spicejet ???
     

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