SpiceJet secures ₹150Cr ECLGS loan from Bank of India
SpiceJet just landed a ₹150 crore lifeline from Bank of India, marking its first big chunk from a planned ₹500 crore rescue package.
This cash comes through the government's Emergency Credit Line Guarantee Scheme (ECLGS), designed to help airlines like SpiceJet handle rising costs and industry turbulence.
ECLGS 5.0 allocates ₹5,000Cr to aviation
This is only the start: more funding is expected in phases.
SpiceJet will use the money to strengthen the airline's cash position amid rising operating costs as well as an increasingly challenging industry environment.
The ECLGS 5.0 scheme, launched in May 2026 with a ₹5,000 crore allocation for the aviation sector, aims to ease pressure from high fuel prices and global disruptions by offering flexible loans and longer repayment periods.