India, April 24 -- Over the past few weeks, several news reports have detailed the position in which SpiceJet finds itself. It desperately needs capital infusion, is trying to lay off at least 15% of its 6,000-strong employee base, and is struggling for survival. And, just 13 of its aircraft are still operational - less than half of its fleet size of close to 30 aircraft (including wet leases).

After the pandemic - and the consolidation that the Indian airline industry has seen in recent years - SpiceJet turned into a cash guzzler. In the third quarter of financial year 2025-26 (FY26), the airline reported a net loss of Rs.268 crore, an improvement from the Rs.635-crore loss in the previous quarter.

The airline continues to face signifi...