HINDIPAGE ONLINE

Chennai: Cash-strapped SpiceJet has cancelled over 1,800 flights across the country for the current month, in signs of mounting troubles for the budget airline.
The air carrier, which is part of Kalanithi Maran-led Sun Group, has cancelled a total of 1,861 flights, a few to Kathmandu in Nepal
Besides, Airports Authority of India  is said to be considering putting SpiceJet on cash-and-carry mode soon if it does not furnish a bank guarantee against its dues to the airport operator, which stand at around Rs 200 crore.
While the regulatory actions might not immediately impact the airline's licence, it could force "a series of actions".
Shares of SpiceJet, which tumbled 13 per cent in early trade today amid a flurry of negative news including fund drought and large
ale flight cancellations, closed with a loss of 4.39 per cent at Rs 15.25 apiece.
Union Civil aviation minister Ashok Gajapathi Raju also last week raised serious concern over the financial health of the domestic airline.
"We are running through a lot of turbulent weather...Not only the public sector, private sector is also crashing.  Kingfisher crashing and, right now, SpiceJet seems to be giving us heart attacks as far as airlines are concerned," Raju had said.
Experts said that SpiceJet needs to act fast to avoid problems like Kingfisher, which had to be grounded amid growing financial burden.
SpiceJet reported fifth straight quarter of net losses for the July-September period at Rs 310 crore.