Thursday, November 7, 2024 SpiceJet has achieved a major milestone as Acuité Ratings & Research Limited has upgraded its long-term credit rating by four levels to B+ and its short-term rating to A4. Additionally, the agency has assigned a ‘Stable’ outlook to the airline. This notable four-level upgrade underscores SpiceJet’s consistent efforts to improve financial stability, bolster operational resilience, and drive strategic growth initiatives.
The enhanced credit rating not only signals SpiceJet’s strengthened financial standing but also boosts its ability to acquire assets through financial leases, offering the airline increased flexibility and cost benefits. This advancement aligns with SpiceJet’s commitment to expanding its fleet, enhancing operational efficiency, and providing exceptional travel experiences for its passengers. Ajay Singh, Chairman and Managing Director of SpiceJet, said, “We are delighted with Acuité’s upgrade of our credit rating by four notches.
This is a testament to our relentless efforts to strengthen our financial position and improve operational efficiency. The upgraded rating will provide us with greater financial flexibility, enabling us to invest in our fleet, network, and customer experience. We remain committed to providing affordable air travel to millions of Indians and contributing to the growth of the Indian aviation industry.
” “We are confident that this upgrade is just the beginning of a series of positive develop.