SpiceJet founder and incoming director Ajay Singh says the takeover process for the ailing carrier should be completed in the next 10 days.
In an interview with Flightglobal, Singh, who will become the low-cost carrier's new promoter, revealed that the Indian authorities are in the “final stages” of approving the applications.
Singh also confirmed reports that he, along with a consortium of investors, will infuse around $250 million into SpiceJet. The capital injection will occur over three tranches, with $70 million in February, $80 million in March and the remaining $100 million in April.
On changes in manpower, he says that “some drastic measures may be implemented” as the airline looks to trim its workforce in a bid to cut costs. Singh adds that “all current staff members holding management roles will be evaluated”.
Meanwhile, SpiceJet will continue to operate its fleet of 18 Boeing 737s and 15 Bombardier Dash-8 Q400s for the remaining summer schedule that lasts till end-March. The carrier's entire fleet is leased.
Flightglobal’s Ascend Fleets Database shows that the low-cost carrier also has orders for 42 737 Max aircraft.
Singh says that he intends to eventually operate a single aircraft type. He wants to add more 737s for the 2015/2016 winter schedule, bringing his jet fleet to 26 aircraft.
“I’m looking at between 30 to 35 737s in total by the end of 2015,” he adds.
He declined, however, to comment on the prospects of the Q400s, saying that “they will be evaluated further”.
In addition, Singh confirmed reports that lessors could repossess some aircraft in light of delayed lease payments, but he declined to provide more details.
“It’s a situation which I have inherited [from the previous promoter Kalanithi Maran and Kal Airways], but I will resolve the issues”.
“I’m not worried [of the repossession of the aircraft], as there are plenty of aircraft available in the market,” Singh concludes.
Source: Cirium Dashboard
