It’s the Kingfisher thing, all over again. An airline hasn’t paid salaries. It hasn’t paid up its past fuel dues. It owes airports money. It gets booked by the DGCA for all this and more, and is told to stop booking flights more than a month in advance. That leaves it even more short of cash, so it starts cancelling flights and returning aircraft to the lease lenders. It then goes to the government asking for a bailout. That’s how the Spicejet story is evolving as we speak. I was in three airports and four flights yesterday. And in Delhi and Bangalore the Spicejet monitor was a sea of red – either “Cancelled” or “Delayed”. Passengers who had bookings were livid, and in one airport gun-toting cops were required to calm everyone down. In the midst of all this, the government gets into a quasi rescue act, asking the regulator to ease the 30 day booking window all the way till March 2015.… (Read On…)
[via Capital Mind]
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