'SpiceJet on path to profitability'

Emphasising that it is on the path to profitability, low-cost carrier SpiceJet on Tuesday said the airline needed recapitalisation for a turn-around while insisting that flash sales have helped it in attaining double-digit increase in revenues.

COO Sanjiv Kapoor hinted that SpiceJet would continue with the strategy of having flash sales to ensure that no empty seats.

“We need to recapitalise. Efforts are on. But I cannot give you a timeline for that. Once we recapitalise, give us 9 t0 12 months (for turning profitable)," Kapoor said.

However, he refused to divulge the details of potential investors.