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Didn't Get Any Credit From Oil Firms: SpiceJet

Beleaguered airline SpiceJet has said it has received no credit from oil companies, even as it scotched speculation about having failed to submit any revival plan on Wednesday.
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Didn't Get Any Credit From Oil Firms: SpiceJet

New Delhi: Beleaguered airline SpiceJet has said it has received no credit from oil companies, even as it scotched speculation about having failed to submit any revival plan on Wednesday.

"... there was no revival plan due for submission today," SpiceJet chief operating officer Sanjiv Kapoor said in a statement late on Wednesday.

The airline also said in the statement that it "received no credit from oil companies".



Besides, the company termed as "complete speculation" the reports that SpiceJet has already received Rs 17 crore from the investors to clear all its dues to the oil companies.

The cash-strapped budget carrier had presented a revival plan to the Civil Aviation Ministry late last month, but it was told to submit a revised comprehensive plan with more details.

The airline, currently part of Kalanithi Maran-led Sun Group, had to cancel many flights amid its mounting financial troubles, while there have been reports about its original co-founder Ajay Singh coming back to the rescue.



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