India's second-largest budget carrier, SpiceJet, has sought government approval for operating an additional 7,000 seats a week to Qatar. The airline, however, denied reports that it was selling some of its overseas parking slots to Qatar Airways.
"We have been in discussions with investors," said Sanjiv Kapoor, chief operating officer (COO), SpiceJet, without elaborating any further.
The Gurgaon-based carrier, which posted a record annual loss last week, had said on May 20 that it was in "very advanced stages of a capital infusion discussion with an external entity". Stock of the no-frills airlines has been rising since then and surged 12.83% to close at Rs. 21.10 on the Bombay Stock Exchange on Friday.
Kapoor said SpiceJet has returned four Boeing 737's to reduce costs. The airline has also decided to add five rows of premium economy seats to attract corporate flyers.
He added that they had raised fares by 10% for bookings made 14-days before travel.
"You cannot turn an ocean liner overnight but we are starting to move in right direction. Turnaround will be very visible," said Kapoor.