Update kalanithi to transfer the ownership of spicejet

[Deepu]

Beleaguered low-cost carrier SpiceJet is likely to lay off about 1,000 employees in the next few weeks to rein in costs, several sources in the airline told Business Standard.

Last week, the carrier had asked about 60 pilots who had resigned to leave after serving only half the six-month notice period.

SpiceJet’s overall staff count is about 5,000.

With losses piling up every day, achieving operational profit is believed to be a precondition for infusion of fresh funds by potential investors, led by founder-promoter Ajay Singh.

Accumulated losses stand at about Rs 3,000 crore and liabilities about Rs 1,400 crore (Rs 14 billion), including about Rs 200 crore (Rs 2 billion) to Airports Authority of India.

SpiceJet likely to lay off 1,000 employees - Rediff.com Business

 

[Sanjeev]

Another company removing employers

 

[DashMajor]

Another Airline company looking to land on ground.

 

[IndianMascot]

Spicejet is already ready to be grounded permanently. Once bad days is another's good days. Finally Air India started making profit.

 

[NinadG]

Don't know why govt keeps waiting till dues keeps accruing to the tune of thousands of crores......Already they knew how Mallya's mismanagement set off nightmare & affected thousands of employees....
Only thing now Maran is in place of Mallya........

 

[Technoglitch]

Don't know why govt keeps waiting till dues keeps accruing to the tune of thousands of crores......Already they knew how Mallya's mismanagement set off nightmare & affected thousands of employees....
Only thing now Maran is in place of Mallya........

"The Board of Directors of the Company at its meeting held on January 15, 2015, has taken on record the proposal of the principal shareholder and promoter Kalanithi Maran and KAL Airways Private Limited to transfer the ownership, management and control of the company to Ajay Singh pursuant to a ‘Scheme of Reconstruction and Revival for the takeover of ownership, management and control of SpiceJet Limited’ to be filed before the Competent Authority, the Ministry of Civil Aviation, Government of India," SpiceJet said in a statement to stock exchanges.
SpiceJet changes hand - The Hindu

 

[NinadG]

Bad days for Maran now.......Hope that he would see good days again & could find another Sivasankaran to deal with........