Budget carrier SpiceJet draws Rs.150-Cr in first tranche of ECLGS funding from BoI

Delhi-based budget carrier SpiceJet has received the first tranche of funding, amounting to INR 150 crore, from Bank of India under the government’s Emergency Credit Line Guarantee Scheme (ECLGS). This disbursement is part of a total processing of INR 500 crore in ECLGS funding for the airline.The airline is currently navigating a period of heightened operating costs driven by elevated aviation turbine fuel prices, geopolitical tensions, and operational disruptions.The company plans to use the newly raised funds to strengthen its cash position and support liquidity management amid these challenging industry conditions.