SpiceJet chief Ajay Singh on Wednesday said the airline would be raising around $250 million in the next couple of months as the budget carrier works on boosting its operations.

The airline is tackling multiple headwinds, including lessor and debt woes, with Singh saying the carrier has faced “significant black swan events”.

“It is difficult to kill SpiceJet....and we are trying to fix the problems,” he said and asserted that the airline’s balance sheet will be cleaned up over the next two quarters.

Recently, the airline raised $150 million and is looking for more funds.

The airline plans to raise $250 million in the next couple of months and there is a bright enough future, Singh said at the CAPA India Aviation Summit in the national capital.

The carrier has wet-leased some aircraft as many of its planes are grounded because of various reasons.

“We will grow our fleet,” Singh, the chairman and managing director, said.

Singh also said it is critical that India has aviation hubs and “we need to take every possible step” in this regard.

IndiGo plan

IndiGo is looking at various financing options for the wide-body planes that are expected to join the airline’s fleet in 2027. Speaking at a session at the CAPA India Aviation Summit 2024, IndiGo CEO Pieter Elbers on Wednesday said having a strong balance sheet is an asset.

In April, IndiGo had placed an order for 30 A350-900 aircraft and also the option to buy 70 more such planes.

“We keep all options open...we are already (looking) at various financing options,” Elbers said.

At present, IndiGo has a fleet of more than 360 planes apart from two Boeing 777 aircraft leased from Turkish Airlines.