SpiceJet seeks Reserve Bank of India approval to raise USD270m

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.