NEW DELHI – Low-cost Indian ******* SpiceJet has grounded all flights after oil companies stopped supplies of *** fuel to the financially beleaguered carrier.
No SpiceJet flights had taken off Wednesday, Press Trust of India reported.
India’s civil aviation ministry Tuesday asked state-owned oil companies and airport operators to extend credit to SpiceJet for 15 days to prevent the ******* from shutting down. But oil marketing companies are refusing to supply *** fuel to SpiceJet.
The aviation ministry also said it would ask Indian banks to extend loans of around 6 billion rupees ($95 million) to the ******* to keep it afloat.
Like many Indian airlines, SpiceJet has been hit by high fuel costs and a weak rupee.