SpiceJet Lessors – Artifex.News https://artifex.news Stay Connected. Stay Informed. Wed, 19 Aug 2026 11:49:00 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.2 https://artifex.news/wp-content/uploads/2026/05/cropped-cropped-app-logo-32x32.png SpiceJet Lessors – Artifex.News https://artifex.news 32 32 India’s SpiceJet bankruptcy cases to be reheard in setback for lessors https://artifex.news/article71364648-ece/ Wed, 19 Aug 2026 11:49:00 +0000 https://artifex.news/article71364648-ece/ Read More “India’s SpiceJet bankruptcy cases to be reheard in setback for lessors” »

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After the order, SpiceJet’s shares pared losses to trade down 2.1% at ₹10.95.
| Photo Credit: Reuters

An Indian court on Wednesday (August 19, 2026) said ‌bankruptcy petitions filed by aircraft lessors against SpiceJet ​will be heard afresh by ⁠a new bench, after the airline reached a last-minute settlement with one lessor.

The order is a setback ‌for aircraft leasing companies that have waged a years-long battle against India’s fourth-largest airline ‌to recover debts, but is a reprieve ‌for ⁠SpiceJet as its existing management will ⁠remain in control of the airline while the petitions are reconsidered.

The National Company Law Tribunal had prepared a judgment covering ​eight petitions against ‌SpiceJet, but said the withdrawal of one of the petitions following the settlement meant the ruling needed to be rewritten.

With one member of ‌the judicial panel due to retire ​on Wednesday (August 19), the tribunal said there was not enough time to rewrite and deliver ⁠the judgment, meaning the remaining petitions would have to be heard afresh by a new bench, ‌a judge said.

After the order, SpiceJet’s shares pared losses to trade down 2.1% at ₹10.95.

In a statement, the airline called the order a “positive step” toward resolving matters.

“(We) remain committed to working closely and constructively with our partners ‌to find mutually acceptable solutions,” a spokesperson said.

The amount ​claimed by lessors was not immediately clear.

SpiceJet’s cash struggles have seen it delay ⁠salary payments to pilots, Reuters reported in June. ⁠It has received financing under a government-backed credit programme to stabilise operations.

The airline’s market share ‌was 1.9% as of June from about 15% at the end of 2019.



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SpiceJet Gives Lessors 4.8 Crore Shares To Clear Over Rs 230 Crore Dues https://artifex.news/spicejet-gives-lessors-4-8-crore-shares-to-clear-over-rs-230-crore-dues-4359978rand29/ Mon, 04 Sep 2023 19:21:14 +0000 https://artifex.news/spicejet-gives-lessors-4-8-crore-shares-to-clear-over-rs-230-crore-dues-4359978rand29/ Read More “SpiceJet Gives Lessors 4.8 Crore Shares To Clear Over Rs 230 Crore Dues” »

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SpiceJet’s shareholders on Thursday passed a number of resolutions (Representational)

Bengaluru:

Low-cost carrier SpiceJet on Monday said it allotted over 4.8 crore shares to nine aircraft lessors to clear outstanding dues worth nearly Rs 231 crore, as the troubled airline looks to return to full operations.

The carrier’s shareholders had on Thursday passed a number of resolutions, including a Rs 2,500 crore fundraising and a preferential issue of shares to lessors to clear outstanding dues.

SpiceJet has been scrambling to raise funds and restore operations for about a fourth of its fleet that has been grounded amid fierce competition in the sector.

The fund crunch and grounded fleet have eroded SpiceJet’s market share to 4.2% as of July – lower than that of new entrant Akasa, which only began commercial operations in August 2022.

SpiceJet, which in February converted around $100 million in dues to aircraft lessor Carlyle Aviation into equity and debentures, still finds itself in legal battles with other lessors over dues.

Moreover, two weeks back, a court ordered the airline to pay Rs 99.27 crore by September 10 to former owner Kalanithi Maran over money owed.

Two months back, SpiceJet’s top shareholder and managing director, Ajay Singh, said he would infuse Rs 500 crore into the company.

Its cash and cash equivalents for the year ended March 31 stood at Rs 33.7 crore.



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