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IDFC, Indian Bank And Yes Bank Put SpiceJet Loans On High-risk: Report

The lenders are concerned about SpiceJet’s cash flows and have held discussions seeking assurances from the Indian budget carrier, as it is behind on payments to some aircraft lessors, the sources said

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Private lenders IDFC First Bank and Yes Bank and state-owned Indian Bank have put their loans to SpiceJet Ltd in the high-risk category, in the latest setback for the airline, people with knowledge of the matter said.

The lenders are concerned about SpiceJet’s cash flows and have held discussions seeking assurances from the Indian budget carrier, as it is behind on payments to some aircraft lessors, the sources said.

SpiceJet said that no bank has put its account on high alert.

"Loans are being serviced as per the agreed terms. We are not aware of any bank having any 'concern' nor has there been any communication regarding the same to SpiceJet," a company spokesperson told Reuters in an email.

The banks did not immediately respond to Reuters’ requests seeking comment.


(Reuters)



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