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SpiceJet Tells Delhi High Court It Is "Struggling To Stay Afloat"
Indian budget airline SpiceJet told a court on Thursday it was "struggling to stay afloat", as it was ordered to make a payment to its former owner over money owed.
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Supreme Court Tells SpiceJet To Pay Rs 270 Crore Dues To Previous Owner
The Supreme Court on Monday said the bank guarantee of Rs 270 crore of SpiceJet must be encashed immediately and the money be paid to media baron Kalanithi Maran and his Kal Airways towards dues from the arbitral award of Rs 578 crore.
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Supreme Court Asks SpiceJet To Pay Rs 579 Crore To Previous Owner Kalanithi Maran
SpiceJet had earlier said that the change of ownership was effected as a rehabilitative measure to address the liability of Rs 2,000 crore incurred by the airline when it was under the management of Kalanithi Maran.
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Delhi High Court Order On SpiceJet-Maran Share Transfer Row Tomorrow
The Delhi High Court is likely to pronounce tomorrow its verdict on the pleas of budget carrier SpiceJet and its co-founder Ajay Singh against a single judge order directing it to deposit Rs 579 crore in connection with a share transfer dispute with previous owner Kalanithi Maran.
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Single Judge Order On Share Dispute Erroneous: Spicejet To Court
Budget carrier SpiceJet on Wednesday claimed in the Delhi High Court that the latter's decision directing the airline to deposit Rs 579 crore within 12 months in connection with a share transfer dispute with its previous owner Kalanithi Maran was "erroneous".
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SpiceJet, Ajay Singh Move Court Against Order To Deposit Rs 579 Crore
Budget carrier SpiceJet and its owner Ajay Singh have moved the Delhi High Court against its single judge's order directing the airline to deposit Rs 579 crore within 12 months in connection with a share transfer dispute with Kalanithi Maran.
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Court Asks SpiceJet to Grant Warrants to Maran, Shares Tank
SpiceJet shares plunged over 10 per cent today following the Delhi High Court's order on Friday asking the budget carrier to pass a board resolution for issuing stock warrants to the airline's former owner Sun group Managing Director Kalanithi Maran and his KAL Airways.
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SpiceJet Inducts Ajay Singh's Wife on the Board
SpiceJet becomes the second domestic carrier to have the owner's spouse holding a board position, after Jet Airways chief Naresh Goyal's wife Anita Goyal.
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Top SpiceJet Official Sudhakar Kondisetty Resigns: Report
Sudhakar Kondisetty, SpiceJet's senior vice president for information technology, has quit. He is the second top executive to step down from the airline in less than one month after the new owner Ajay Singh came on board.
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Home Ministry Conducting Background Check of New Owner of SpiceJet: Sources
Security agencies are conducting a background checking of new owner of SpiceJet, Ajay Singh, after he infused a fund of Rs 500 crore in the beleaguered air carrier and announced plans to invest Rs 1,500 crore.
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SpiceJet Receives Fund From New Owner
In late January, SpiceJet board had approved transfer of entire 58.46 per cent stake of Marans to Singh, while the company would raise Rs 1,500 crore through issuance of fresh securities under a revival plan.
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Ajay Singh Again Becomes Owner of SpiceJet: Report
Mr Singh had exited from the carrier around four year ago.
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SpiceJet's Q3 Loss Widens in Battle to Stay Afloat
The new owners are expected to recapitalise SpiceJet once regulators have approved the bailout deal.
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SpiceJet Sticks to Aggressive Discounts Under New Owner
The fare slash is aimed to shore up revenues during the lean travel season - between January and the start of the summer break in May, analysts say.
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SpiceJet Needs To Be Saved: Co-founder Ajay Singh
SpiceJet co-founder Ajay Singh is returning to rescue the struggling carrier he sold nearly four years ago. Mr Singh, who helped found SpiceJet in 2005, has agreed to take control of the ownership and management of the airline from its majority owner Kalanithi Maran.
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SpiceJet Tells Delhi High Court It Is "Struggling To Stay Afloat"
Indian budget airline SpiceJet told a court on Thursday it was "struggling to stay afloat", as it was ordered to make a payment to its former owner over money owed.
-
Supreme Court Tells SpiceJet To Pay Rs 270 Crore Dues To Previous Owner
The Supreme Court on Monday said the bank guarantee of Rs 270 crore of SpiceJet must be encashed immediately and the money be paid to media baron Kalanithi Maran and his Kal Airways towards dues from the arbitral award of Rs 578 crore.
-
Supreme Court Asks SpiceJet To Pay Rs 579 Crore To Previous Owner Kalanithi Maran
SpiceJet had earlier said that the change of ownership was effected as a rehabilitative measure to address the liability of Rs 2,000 crore incurred by the airline when it was under the management of Kalanithi Maran.
-
Delhi High Court Order On SpiceJet-Maran Share Transfer Row Tomorrow
The Delhi High Court is likely to pronounce tomorrow its verdict on the pleas of budget carrier SpiceJet and its co-founder Ajay Singh against a single judge order directing it to deposit Rs 579 crore in connection with a share transfer dispute with previous owner Kalanithi Maran.
-
Single Judge Order On Share Dispute Erroneous: Spicejet To Court
Budget carrier SpiceJet on Wednesday claimed in the Delhi High Court that the latter's decision directing the airline to deposit Rs 579 crore within 12 months in connection with a share transfer dispute with its previous owner Kalanithi Maran was "erroneous".
-
SpiceJet, Ajay Singh Move Court Against Order To Deposit Rs 579 Crore
Budget carrier SpiceJet and its owner Ajay Singh have moved the Delhi High Court against its single judge's order directing the airline to deposit Rs 579 crore within 12 months in connection with a share transfer dispute with Kalanithi Maran.
-
Court Asks SpiceJet to Grant Warrants to Maran, Shares Tank
SpiceJet shares plunged over 10 per cent today following the Delhi High Court's order on Friday asking the budget carrier to pass a board resolution for issuing stock warrants to the airline's former owner Sun group Managing Director Kalanithi Maran and his KAL Airways.
-
SpiceJet Inducts Ajay Singh's Wife on the Board
SpiceJet becomes the second domestic carrier to have the owner's spouse holding a board position, after Jet Airways chief Naresh Goyal's wife Anita Goyal.
-
Top SpiceJet Official Sudhakar Kondisetty Resigns: Report
Sudhakar Kondisetty, SpiceJet's senior vice president for information technology, has quit. He is the second top executive to step down from the airline in less than one month after the new owner Ajay Singh came on board.
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Home Ministry Conducting Background Check of New Owner of SpiceJet: Sources
Security agencies are conducting a background checking of new owner of SpiceJet, Ajay Singh, after he infused a fund of Rs 500 crore in the beleaguered air carrier and announced plans to invest Rs 1,500 crore.
-
SpiceJet Receives Fund From New Owner
In late January, SpiceJet board had approved transfer of entire 58.46 per cent stake of Marans to Singh, while the company would raise Rs 1,500 crore through issuance of fresh securities under a revival plan.
-
Ajay Singh Again Becomes Owner of SpiceJet: Report
Mr Singh had exited from the carrier around four year ago.
-
SpiceJet's Q3 Loss Widens in Battle to Stay Afloat
The new owners are expected to recapitalise SpiceJet once regulators have approved the bailout deal.
-
SpiceJet Sticks to Aggressive Discounts Under New Owner
The fare slash is aimed to shore up revenues during the lean travel season - between January and the start of the summer break in May, analysts say.
-
SpiceJet Needs To Be Saved: Co-founder Ajay Singh
SpiceJet co-founder Ajay Singh is returning to rescue the struggling carrier he sold nearly four years ago. Mr Singh, who helped found SpiceJet in 2005, has agreed to take control of the ownership and management of the airline from its majority owner Kalanithi Maran.
