Ram Mohan Naidu assures safety as SpiceJet receives ₹150cr ECLGS
Business
SpiceJet is having a tough time with its finances: think cash flow problems and delayed salaries for pilots.
The government is watching closely, but Civil Aviation Minister Ram Mohan Naidu reassures everyone that flight safety won't take a back seat, even as the airline gets ₹1.5 billion (about $15.67 million) through the Emergency Credit Line Guarantee Scheme (ECLGS).
SpiceJet loses market share amid competition
Once India's No. 2 airline, SpiceJet has lost market share thanks to rising fuel costs and fierce competition.
The government admits it can't step in much since it's a private company, but promises passenger safety stays top priority while it keeps an eye on things.