News
SpiceJet’s outlook upgraded to stable
November 6th 2024
SpiceJet chair and managing director, Ajay Singh, has welcomed Acuité Ratings & Research Limited's announcement that it has lifted the LCC’s credit rating and determined the outlook for the airline to be stable. Read More » Acuité now rates SpiceJet's long-term rating as B+ and its short-term rating as A4. “We are delighted with Acuité’s upgrade of our credit rating by four notches," Singh said. "This is a testament to our relentless efforts to strengthen our financial position and improve operational efficiency. The upgraded rating will provide us with greater financial flexibility, enabling us to invest in our fleet, network and customer experience." According to a SpiceJet regulatory filing, Acuité’s better rating for SpiceJet took into account the airline's improved liquidity position following a recent capital raising of 30 billion rupee (US$357 million) via an institutional share placement.
