SpiceJet subsidiary SpiceXpress to get $100 million from UK group

• SpiceJet’s subsidiary, SpiceXpress and Logistics is set to receive a substantial investment of USD 100 million from the SRAM & MRAM Group, a UK-based company.
• This investment comes at a crucial time for the airline.
• SpiceJet recently decided to hive off SpiceXpress due to financial challenges and an insolvency plea from an aircraft lessor.
• The investment will help SpiceXpress and Logistics to expand its operations and improve its services.
• The company plans to use the funds to acquire new aircraft and expand its cargo network.
• SpiceXpress and Logistics is one of the leading cargo airlines in India.
• The company has a fleet of 19 cargo aircraft and operates more than 600 flights per day.
• The investment will help the company to strengthen its position in the Indian logistics market.

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