New Delhi, Sep 22 (SocialNews.XYZ) The government and aviation regulator DGCA are closely monitoring SpiceJet's financial and operational performance amid ongoing challenges facing the airline, Civil Aviation Minister K Ram Mohan Naidu said on Tuesday, stressing that passenger safety remains the foremost priority.
Speaking on the government's oversight of the carrier, the minister said the Directorate General of Civil Aviation (DGCA) has been tasked with reviewing both the airline's operations and finances to ensure that there is no compromise on aviation safety.
Naidu said the regulator is continuously monitoring SpiceJet's performance and maintaining regular engagement with the airline. The government has also been holding discussions with the carrier and encouraging it to increase operational capacity as it works to stabilise its business.
SpiceJet has faced a challenging period marked by financial pressures, a shrinking fleet and a decline in domestic market share. The airline has been working to restore capacity and improve operations while seeking additional financial support to strengthen its balance sheet.
The minister noted that SpiceJet is also exploring funding under the Emergency Credit Line Guarantee Scheme (ECLGS), which the government recently expanded to support airlines facing industry-wide challenges.
Earlier this month, the government approved ECLGS 5.0, earmarking Rs 5,000 crore in targeted credit support for the aviation sector. The scheme aims to help airlines manage financial pressures arising from disruptions linked to the West Asia conflict and broader industry headwinds.
According to the government, the aviation sector has been affected by a combination of factors, including higher Aviation Turbine Fuel (ATF) prices, airspace restrictions and reduced international flight operations triggered by geopolitical tensions in West Asia.
Despite these challenges, Naidu emphasised that safety standards will remain non-negotiable. The ministry's review, along with the DGCA's oversight, is focused on ensuring that operational difficulties do not affect regulatory compliance or passenger safety.
The government's engagement with SpiceJet comes at a crucial time for the airline as it seeks to rebuild capacity, improve financial stability and regain market share in India's rapidly expanding aviation market.
Source: IANS
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