Money-losing SpiceJet had delayed employees' salaries for November and briefly grounded its fleet this month for want of cash. Its majority owner, billionaire Kalanithi Maran's Sun Group, has said it cannot afford a bailout.
Troubled carrier SpiceJet Ltd has paid employees' salaries for November and cleared dues of fuel companies as of Friday, its chief operating officer said.
Sanjiv Kapoor met senior officials in the aviation ministry on Friday along with co-founder Ajay Singh, who sources have said is planning to team up with private-equity funds to infuse funds in to the carrier.
Money-losing SpiceJet had delayed employees' salaries for November and briefly grounded its fleet this month for want of cash. Its majority owner, billionaire Kalanithi Maran's Sun Group, has said it cannot afford a bailout.
SpiceJet has bank loans of USD 47 million, Kapoor said, adding Friday's meeting was "very constructive". He did not elaborate.
Singh and government officials were not immediately available to comment.
SpiceJet stock price
On December 26, 2014, SpiceJet closed at Rs 19.25, up Rs 1.60, or 9.07 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 -1.17.
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