SpiceJet staff get booster dose from COO Sanjiv Kapoor

MUMBAI: Low fare carrier SpiceJet's chief operating officer Sanjiv Kapoor Monday wrote to his staff giving them a morale-boost, days ahead of its formal change of ownership to former promoter Ajay Singh.

 "With the change of ownership and the return of Ajay as promoter, we need to take it (service and operational levels) up a few levels...the bounce is coming back to our feet, but we need it to come back even stronger," he wrote in an email.

The pep talk comes a couple of days ahead of the first fund tranche into the beleaguered airline from its new majority shareholder.
Source: http://goo.gl/CQVBoC

SpiceJet to get 2nd tranche of Rs 400 crore by Wednesday

NEW DELHI: Budget carrier SpiceJetBSE 1.46 % is expected to receive the second tranche of Rs 400 crore of the Rs 1,500 crore fund infusion from the new promoter Ajay Singh by Wednesday.

"One tranche (of Rs 100 crore) has been invested. The second tranche, 400 crore, should happen tomorrow or day after," Singh told PTI.

In late January, SpiceJet board had approved transfer of Maran family's entire 58.46 per cent stake to Singh, while the company would raise Rs 1,500 crore through issuance of fresh securities.

 Under the revival plan, SpiceJet would see a capital infusion of Rs 1,500 crore from Singh in a staggered manner by April.

Asked whether financial position of spiceJet was better as compared to last year, Singh said, "much better, it is much more stable now".
Source: http://goo.gl/Zd7slb