<p>SpiceJet chief Ajay Singh on Monday said the airline is significantly restructuring its balance sheet and will aggressively push for fleet expansion.</p>.<p>The airline will also be having a significant number of dedicated cargo aircraft, he said, adding that the cargo business has helped the airline pay off its liabilities.</p>.<p>Last month, the airline announced that Carlyle Aviation Partners will acquire a 7.5 per cent stake in the airline by converting outstanding dues as well as snap up shareholding in the cargo business.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/indian-carriers-to-operate-fewer-flights-this-summer-than-last-1201329.html" target="_blank">Indian carriers to operate fewer flights this summer than last</a></strong></p>.<p>Besides, it is set to tap the Qualified Institutional Buyer (QIB) route to raise up to Rs 2,500 crore.</p>.<p>Amid the budget carrier facing multiple headwinds, he also said that "a measure of desperation is always good for an organisation... we will emerge stronger".</p>.<p>"It is in our (SpiceJet) DNA. We just refuse to die," Singh said at a session at CAPA India aviation summit here.</p>.<p>The airline is significantly restructuring the balance sheet and will be raising fresh capital. There will also be an aggressive push for fleet expansion, he asserted.</p>.<p>According to him, the grounding of Boeing 737 Max planes was a bigger disaster than Covid, Singh said.</p>.<p>SpiceJet has been betting on more efficient Boeing 737 Max aircraft for its expansion.</p>.<p>"As we grow again, you will find a lower cost base," he said.</p>.<p>The cash-strapped carrier has been facing multiple headwinds though it reported a multi-fold rise in net profit to Rs 107 crore in the three months ended December 2022, helped by better performance in passenger and cargo businesses.</p>
<p>SpiceJet chief Ajay Singh on Monday said the airline is significantly restructuring its balance sheet and will aggressively push for fleet expansion.</p>.<p>The airline will also be having a significant number of dedicated cargo aircraft, he said, adding that the cargo business has helped the airline pay off its liabilities.</p>.<p>Last month, the airline announced that Carlyle Aviation Partners will acquire a 7.5 per cent stake in the airline by converting outstanding dues as well as snap up shareholding in the cargo business.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/indian-carriers-to-operate-fewer-flights-this-summer-than-last-1201329.html" target="_blank">Indian carriers to operate fewer flights this summer than last</a></strong></p>.<p>Besides, it is set to tap the Qualified Institutional Buyer (QIB) route to raise up to Rs 2,500 crore.</p>.<p>Amid the budget carrier facing multiple headwinds, he also said that "a measure of desperation is always good for an organisation... we will emerge stronger".</p>.<p>"It is in our (SpiceJet) DNA. We just refuse to die," Singh said at a session at CAPA India aviation summit here.</p>.<p>The airline is significantly restructuring the balance sheet and will be raising fresh capital. There will also be an aggressive push for fleet expansion, he asserted.</p>.<p>According to him, the grounding of Boeing 737 Max planes was a bigger disaster than Covid, Singh said.</p>.<p>SpiceJet has been betting on more efficient Boeing 737 Max aircraft for its expansion.</p>.<p>"As we grow again, you will find a lower cost base," he said.</p>.<p>The cash-strapped carrier has been facing multiple headwinds though it reported a multi-fold rise in net profit to Rs 107 crore in the three months ended December 2022, helped by better performance in passenger and cargo businesses.</p>