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SpiceJet seeks Reserve Bank of India approval to raise USD270m

27-Jun-2011 10:46 AM

SpiceJet has reportedly sought the Reserve Bank of India's approval to raise USD270 million from Canada's export finance agency Export Development Canada (EDC) for aircraft purchases (Reuters, 24-Jun-2011). The carrier, which operates a fleet of 29 B737s at present, plans to add 15 Q400s from Jul-2011. The airline plans to raise the number of flights from 190 to 300 per day.