10-06-2022 09:45 AM | Source: Reuters
India`s SpiceJet jumps on report of likely 10 billion rupees government loan
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Shares of SpiceJet Ltd surged about 9% on Thursday after a report said that the Indian budget airline carrier is expected to receive an additional 10 billion Indian rupees ($122.7 million) loan under the government's modified Emergency Credit Line Guarantee Scheme.
The funds will help the airline clear its dues, pay lessors on time and induct new Boeing 737 Max planes, Business Standard newspaper reported, citing sources. ($1 = 81.5150 Indian rupees)
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