SpiceJet shareholders discuss funding and expansion plans during AGM

SpiceJet shareholders on Monday sought to know about the airline's funding and expansion plans during the annual general meeting.

At the 40th Annual General Meeting (AGM), members also transacted various businesses, including adoption of audited financial statements for the financial year ended March 31, 2024, together with the reports of the board of directors and the statutory auditors, and increasing the company's authorised share capital, according to a regulatory filing.

The budget carrier, whose Chairman is Ajay Singh, recently raised Rs 3,000 crore and since then, has been settling pending dues and various disputes.

At the AGM, the airline said questions were raised by the members, inter-alia, on future expansion, raising of funds, operating expenses of the company, accounts of the company and addition of new flights.

"The Chairman replied the questions of the members and also apprised about the operational highlights of the company, fund-raising efforts, future outlook etc," the filing said.

Singh also apprised the shareholders about the operational highlights of the company, fundraising efforts and future outlook.