Friday, August 12, 2022

Spicejet settles all outstanding principal of AAI

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Low cost delivery person SpiceJet has reached a full and final settlement with the Airports Authority of India (AA) and all outstanding principal rights of the airport operator.



As a result, SpiceJet will no longer “cash and carry” at AAI-operated airports across the country and revert to the prepayment mechanism for daily flight operations.

According to the airline’s spokesperson, SpiceJet’s ability to settle the outstanding dues reflects the airline’s improved cash flow in recent times.

β€œIn another big boost for the airline, AAI will release SpiceJet’s Rs 50 crore bank guarantee after the airline has cleared all its principal rights. This will result in additional liquidity for the airline,” the airline said.

SpiceJet has been flying with the highest passenger load factor in Indian airspace for seven years now. As of April 2015, the airlines have recorded the highest load factor of any Indian domestic airline – a feat unmatched in global aviation. The airline also has the envious accolade of having flown for 58 consecutive months with a Passenger Load Factor (PLF) of over 90 percent.

The airline’s domestic network spans the length and breadth of the country and flies to 51 domestic destinations. SpiceJet, a pioneer in regional connectivity, is the country’s largest regional player, helping to connect the most remote parts of the country by air.

The airline’s focus on providing direct flight connections to regional hubs not only improves connectivity, it also has a cascading effect on tourism and economic activity in the region. SpiceJet added several UDAN destinations to the country’s aviation map including Pakyong, Jharsuguda, Kandla, Darbhanga, Kanpur, Ajmer (Kishangarh), among others.

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