A senior government official said the aviation ministry would decide the next course of action in case the airline didn't pay by the deadline.
The state-run airport operator has asked troubled budget carrier SpiceJet Ltd to deposit 2 billion rupees (USD 31.5 million) by December 31, failing which the airline could be put in the so-called cash-and-carry mode, a senior government official said on Tuesday.
SpiceJet has so far given a bank guarantee of 825 million rupees of the total due, the official, who declined to be named, told reporters in New Delhi. He said the aviation ministry would decide the next course of action in case the airline didn't pay by the deadline.
Cash-strapped SpiceJet needs urgent funding to continue operations smoothly. It was forced to briefly ground its aircraft this month as suppliers refused to fuel them.
Co-founder Ajay Singh is leading a rescue plan for the airline and could team up with private-equity players to infuse funds, government officials have said previously.
SpiceJet stock price
On December 30, 2014, SpiceJet closed at Rs 17.80, down Rs 0.9, or 4.81 percent. The 52-week high of the share was Rs 22.20 and the 52-week low was Rs 11.10.
The latest book value of the company is Rs -16.49 per share. At current value, the price-to-book value of the company was -1.08.
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