SpiceJet seeks more time to pay for aircraft lease3 min read . Updated: 23 Oct 2018, 06:38 AM IST
A delay in delivery of 737 Max planes by Boeing Co. has caused liquidity issues at SpiceJet, says Crisil
Mumbai: SpiceJet Ltd has sought a three-month extension from a leasing company for making payments on aircraft leases as a delay in delivery of 737 Max planes by Boeing Co. has caused liquidity issues at the budget airline, said ratings agency Crisil Ltd. Crisil also downgraded its long-term rating on SpiceJet’s bank facilities from BBB stable to BB negative. It also downgraded the short-term rating on the bank facilities from ‘A3+’ to ‘A4’.
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