Budget Carrier SpiceJet Doesn’t Need To Increase Capital To Fund Its Aircraft

Budget carrier SpiceJet doesn’t need to increase capital to fund its aircraft acquisitions from Canada’s Bombardier Inc, SpiceJet Chief Executive mentioned on Friday.

SpiceJet in November accepted purchase as much as thirty Nextgen turboprop aircraft from Bombardier for around USD 915 million. The initial purchase was for 15 planes.

The firm will finance the pruchase via cash in hand as well as credit, NeilMills told Reuters in an interview.

Mills wants the firm to develop “well beyond” the industry average of 14percent to 16percent above the next 12 to 18 months, and load factor to exceed 80percent in FY2011.

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