SpiceJet Shares Jump About 9% After Report Of 1,000-Crore Government Loan

SpiceJet shares surged about 9 per cent after a report said that the airline is expected to receive an additional 10 billion Indian rupees loan.

SpiceJet Shares Jump About 9% After Report Of 1,000-Crore Government Loan
BENGALURU:

Shares of SpiceJet Ltd surged about 9 per cent on Thursday after a report said that the Indian budget airline carrier is expected to receive an additional 10 billion Indian rupees, or Rs 1,000 crore, ($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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