SpiceJet, the Delhi-based low cost airline, has raised an additional ₹300 crore from various sources and plans to have a fleet of 45-50 aircraft by March 2016. The airline currently has a fleet of 35 aircraft including 20 Boeing 737 aircraft.
The "various sources" from which the additional funds were raised was not immediately made available, with senior company officials only indicating that the funds had already been arranged.
At its board meeting here on Thursday the airline approved the appointment of three persons including Ajay Singh and his wife Shiwani Singh as directors on the board of SpiceJet.
"Ajay Singh has been designated as the Managing Director and Chairman of the board of the company. Singh will not draw any remuneration for the executive functions to be performed by him,” the airline said in a communication to the Bombay Stock Exchange.