DGCA asks Spicejet to file compliance report by Dec 15

SpiceJet CEO Sanjeev Kapoor today met DGCA chief Prabhat Kumar as sought more time to file their reply, but the regulator asked him to file by December 15, official sources said.

The civil aviation regulator today asked beleaguered SpiceJet to file a comprehensive by December 15 a convincing schedule and compliance of its directive disallowing the no-frill carrier to offer advance booking of air tickets beyond 30 days.

SpiceJet CEO Sanjeev Kapoor today met DGCA chief Prabhat Kumar as sought more time to file their reply, but the regulator asked him to file by December 15, official sources said.

Also read: Marans capable of funding SpiceJet deficiencies: Ajay Singh

Concerned over the deteriorating condition of SpiceJet and large-scale flight cancellations, aviation regulator DGCA had on Friday withdrawn 186 of its slots and asked it to clear salary dues of all its employees within the coming 10 days.

After reviewing the situation, Kumar took a series of decisions, including asking the airline to file a convincing schedule to clear its dues to various vendors, among them airports and oil companies.

In signs of mounting troubles for the budget airlines, cash-strapped SpiceJet has canceled over 1,800 flights across the country for the current month.

SpiceJet stock price

On December 09, 2014, SpiceJet closed at Rs 15.65, up Rs 0.40, or 2.62 percent. The 52-week high of the share was Rs 22.20 and the 52-week low was Rs 11.10.

The latest book value of the company is Rs -16.49 per share. At current value, the price-to-book value of the company was -0.95.

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