Shares of SpiceJet Ltd surged about 9% on Thursday after a report mentioned that the Indian funds airline provider is anticipated to obtain a further 10 billion Indian rupees ($122.7 million) mortgage below the federal government’s modified Emergency Credit Line Guarantee Scheme.
The funds will assist 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)