LCC SpiceJet has sought the Reserve Bank of India's approval to raise USD 270 million from Canada's export finance agency Export Development Canada (EDC) for financing fleet expansion as per a report in Mint.

SpiceJet, which uses 29 Boeing B737 aircraft for 192 daily flights to 23 cities, plans to add 15 Canadian-manufactured Bombardier Q400 short-haul aircraft from July to connect more cities.

"There is a clearance to raise USD 270 million from EDC, which is the equivalent of US Exim Bank. RBI approvals are likely to come soon," an unidentified source said. The carrier will do an "outright purchase" of the aircraft and funding for 15 planes has already been tied up.