No question of filing insolvency, says SpiceJet amid Go First crisis
SpiceJet has initiated the process of reviving its grounded fleet with the $50 million funds received from ECLGS and internal cash accruals.
SpiceJet has initiated the process of reviving its grounded fleet with the $50 million funds received from ECLGS and internal cash accruals.
The Centre’s decision will give airlines collateral-free liquidity at reasonable interest rates to tide over present cash flow issues.
The increase has been done on account of the severe disruptions caused by the Covid-19 pandemic on hospitality and related enterprises.
Very few — just 11% of MSME units — are registered with the Centre and ECLGS credit has reached only 15% of all units, thus leaving out 85% of units.
Industry stakeholders have welcomed the move, which is touted to provide immediate relief to the struggling sector
Aided by strong demand recovery, credit ratio rebounds to 1.33 in H2FY21, from 0.54 in H1FY21. GDP could grow at 11% in FY22, but the resurgence in Covid-19 cases is a key downside risk, says CRISIL.