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SpiceJet jumps on report of likely 10 billion rupees govt loan: Report

The funds will help the airline clear its dues, pay lessors on time and induct new Boeing 737 Max planes, Business Standard newspaper reported, citing sources.

spicejet, spicejet news, spicejet dealA SpiceJet passenger Boeing 737-800 aircraft takes off from Sardar Vallabhbhai Patel international airport in Ahmedabad, India May 19, 2016. (REUTERS/File Photo)

Shares of SpiceJet Ltd surged about 9% on Thursday after a report said that the Indian budget airline carrier is expected to receive an additional 10 billion Indian rupees ($122.7 million) loan under the government’s modified Emergency Credit Line Guarantee Scheme.

The funds will help the airline clear its dues, pay lessors on time and induct new Boeing 737 Max planes, Business Standard newspaper reported, citing sources.

($1 = 81.5150 Indian rupees)

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First published on: 06-10-2022 at 10:37:32 am
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