Shares of SpiceJet Ltd surged about 9% on Thursday after a report said that the Indian budget airline carrier is expected to receive an additional 10 billion Indian rupees ($122.7 million) loan under the government’s modified Emergency Credit Line Guarantee Scheme.
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The funds will help the airline clear its dues, pay lessors on time and induct new Boeing 737 Max planes, Business Standard newspaper reported, citing sources.
($1 = 81.5150 Indian rupees)
