SpiceJet reportedly planning to raise USD43 million

SpiceJet is reportedly planning to raise USD43 million in fresh capital before the end of the current financial year, by issuing foreign currency convertible bonds (FCCBs) or obtaining banks loans (Economic Times, 16-Oct-2009). CEO, Sanjay Aggarawal, stated that "any cash the company might raise will be used to build reserves or to grow the airline."