India's SpiceJet is seeking government funds to tide over coronavirus crisis

  • 📰 CNBC
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 72%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

The Indian aviation industry is in crisis mode as the country's extended lockdown measures to reduce the spread of the coronavirus has left all passenger planes grounded till at least May 3.

has asked the government for relief to ease the strain on its cash flow as it seeks to navigate the challenges brought on by the coronavirus, chairman and managing director Ajay Singh said Friday.

Like other countries, India's airlines are in crisis as the country's extended lockdown measures to reduce the spread of the coronavirus has left all passenger planes grounded till at least May 3, leading to a depletion of cash reserves for the airlines. "We've asked for some issues which relate to cash flow, which is, of course, in short supply at this time," Singh said. "We have asked them to help out with some of the salary payments, we've asked them to help ... with some of the airport charges."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

File for bankruptcy ... like the rest of us !!! kunalkamra88 ... Karma

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Eros India CEO Explains STX Merger Logic: 'The Bigger Story Is on the OTT Side'When STX Entertainment unveiled ambitious plans in 2018 to make an initial public offering Hong Kong — which, ultimately, didn't come to fruition — the company expected to raise $500 million at a target valuation of $3.5 billion
Source: THR - 🏆 411. / 53 Read more »

Facebook Bets $5.7 Billion That Mobile Giant Holds Key to IndiaFacebook’s $5.7 billion tie-up with an Indian mobile leader could create a new kind of animal in the world’s biggest untapped digital market: a social media behemoth wedded to a mobile infrastructure titan. basilnsage Local ally is the key. Eliminate the risk of getting shut out totally. Amazing step. In the land of the pretty Unicorns ... FacebookRelJiodeal has created a Fire Breathing Dragon that will decimate ecomm rivals. Good move 👍
Source: WSJ - 🏆 98. / 63 Read more »