SpiceJet seeks $ 250 mn raise in 2 months: CMD Ajay Singh

07 Jun 2024 CW Team

During a session of the CAPA India Aviation Summit 2024, Ajay Singh, the Chairman and Managing Director of SpiceJet, announced that the company aims to raise $250 million within the next two months and gradually increase its fleet size to 100 aircraft.

Singh stated that they had raised some funds two or three months prior and mentioned that another round of fundraising will occur over the next couple of months, with approximately $150 million already secured.

He explained that the airline's finances have been significantly impacted in recent years due to the effects of the pandemic and the grounding of its Boeing 737 MAX fleet for two and a half years.

Singh expressed their commitment to increasing capacity and utilising it as necessary as part of the airline's revival process. Currently, SpiceJet operates with an active fleet of about 30 aircraft.

Regarding the cargo business, Singh emphasized that the focus will remain on its expansion. He mentioned the creation of a separate company for cargo operations and plans to fund and expand it independently, as part of the ongoing restructuring efforts.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..