Page 3 - SpiceJet Ltd News

Sebi exempts SHPL from making open offer for SpiceJet shareholders

Markets regulator Sebi has exempted Spice Healthcare Pvt Ltd from making an open offer to SpiceJet shareholders in relation to acquisition of additional shares in the airline. On conversion of warrants that were issued to it, Spice Healthcare, a promoter group entity, would be acquiring an additional 13,14,08,514 equity shares in the airline. In this regard, SpiceJet had sought an exemption from Sebi with respect to making an open offer for the shareholders of the airline. The Securities and Exchange Board of India (Sebi), through an order on Friday, has given the exemption from making the open offer to Spice Healthcare subject to certain conditions, the airline said in a filing to BSE on Saturday. Post conversion of the warrants, Spice Healthcare will have an additional 13.74 per cent stake in the airline and that would trigger the open offer requirement under Sebi norms. The watchdog has given the exemption subject to the condition that the shares acquired by the entity on exerc

Shareholders approve Rs 3,000 crore fund raising plan, says SpiceJet

SpiceJet on Thursday said its shareholders have approved the proposal to raise up to Rs 3,000 crore through issuance of securities. The no-frills carrier -- which is grappling with multiple woes, including financial challenges, legal battles and grounding of aircraft -- is looking to raise money that will help it meet various obligations. In a regulatory filing on Friday, the airline said shareholders have given their nod for the special resolution for raising funds of up to Rs 3,000 crore. The funds are proposed to be raised through Qualified Institutional Placement (QIP) and other options. SpiceJet, which had a fleet of 74 planes in 2019, is currently operating around 20 aircraft. Shares of the airline rose 8 per cent to close at Rs 71.66 on the BSE.

SpiceJet's domestic market share shrinks to 2.3%, shows DGCA data

Overall, Indian carriers carried a total of 13.1 million domestic passengers, which was 5.7 per cent more year-on-year

SpiceJet rallies 15% in 2 days, hits over 7-month high on heavy volumes

SpiceJet moved the Supreme Court against the Delhi High Court order that directed the grounding and return of three engines leased from Team France 01 SAS and Sunbird France 02 SAS.

SpiceJet moves SC against order grounding its three leased engines

The division bench of the Delhi High Court had rejected cash-strapped airline SpiceJet's plea, saying it did not wish to interfere with single-judge order of same court and asked parties to settle

SpiceJet to pay elderly couple full refund for flight cancelled in Covid

A consumer commision here has directed private carrier SpiceJet Limited to refund a senior citizen couple the amount they had paid for a flight cancelled during the COVID-19 pandemic. The commission held that the airline was guilty of deficiency in service by not refunding the ticket cost after the flight cancellation and despite clear guidelines from the Supreme Court and aviation regulator DGCA (Directorate General of Civil Aviation). The district consumer disputes redressal commission (Mumbai suburban) passed the order last month and its details were available recently. As per the order, the complainants, residents of suburban Chembur, had booked two tickets on June 24, 2020, from Mumbai to Pondicherry via Bangalore for a scheduled flight on July 1 and paid Rs 13,696 through a credit card for both tickets. As per their complaint, the couple later received an email from the airline informing them that their flight had been cancelled. In another email, SpiceJet told the couple th

Delhi HC upholds order allowing grounding engines leased to SpiceJet

The division bench rejected cash-strapped airline SpiceJet's plea, saying it did not agree with the single-judge order and asked the parties to settle

Carlyle Aviation will write off $40 million of lease arrears: SpiceJet

The write-off comes days after the airline said it will convert dues to Carlyle Aviation into equity and debentures

Civil aviation ministry trying to address SpiceJet's issues: Rammohan Naidu

The civil aviation ministry is looking at the issues being faced by SpiceJet and address them as the efforts are aimed at having a balance that will allow operations of more airlines amid the high demand in the Indian market, Union minister K Rammohan Naidu said on Monday. The airline is grappling with multiple issues, including financial and legal woes. On August 29, the Directorate General of Civil Aviation (DGCA) decided to place crisis-hit SpiceJet under enhanced surveillance that will entail increased spot checks and night surveillance to ensure the safety of the airline's operations. "We are looking at SpiceJet... with the demand we have, we need more airlines to operate. So we are trying to have a balance and address the problems and (ensure the) airline runs properly," the minister said. He was responding to a question about concerns regarding the budget carrier. To a query about air ticket prices, the minister said airfares are market-driven and it is being monitored by th

SpiceJet shares fly 5.5% in trade; here is what is driving the stock

Large deals of 1.5 million shares take place in SpiceJet, the company plans QIP, restructuring, and settlement with Carlyle Aviation

SpiceJet's Ajay Singh may sell over 10% stake in airline to raise funds

SpiceJet promoter and chairman Ajay Singh may offload more than 10 per cent stake in the struggling carrier as part of the latest funding round that is expected to close by the end of September, according to sources. The budget carrier -- which is grappling with multiple woes, including financial challenges, legal battles and grounding of aircraft -- is looking to raise money that will help it meet various obligations. One of the sources said that Singh could offload up to a 15 per cent stake in the airline if certain conditions are conducive. Singh, who is the Chairman and Managing Director, would be offloading around 10 per cent shareholding in the airline and the quantum could go up, the second source said. For the proposed QIP (Qualified Institutional Placement), there is already a commitment for up to Rs 2,000 crore and the airline is in discussions with potential investors. Meetings with investors have been held in India and overseas, the sources in the know said. There was

SpiceJet plans to raise over Rs 3,200 cr through debt, equity instruments

Cash-strapped domestic carrier Spicejet plans to raise over Rs 3,200 crore through various debt and equity instruments and capital infusion by the promoter, the airline said in a corporate presentation. The funds will be utilised in fleet ungrounding, liability settlement, new fleet induction and other general purposes, SpiceJet said in the presentation. "Spicejet plans to raise Rs 2,500 crore through QIP and Rs 736 crore through Previous Warrants and promoter infusion," it said. The proposed fundraising is subject to shareholders' approval, it added.

'No immediate concerns': SpiceJet after DIAL asks to clear dues at earliest

Delhi airport operator DIAL has asked SpiceJet to clear its dues at the earliest, sources said on Tuesday even as the airline asserted that there are no immediate concerns regarding payments. There was no official comment from DIAL (Delhi International Airport Ltd), which operates the Indira Gandhi International Airport in the national capital. SpiceJet has been facing financial and legal woes, and aviation watchdog DGCA placed the budget carrier under enhanced surveillance last week. The sources in the know on Tuesday said DIAL has asked the carrier to clear the dues at the earliest. Details about pending dues could not be immediately ascertained. When contacted, a SpiceJet spokesperson said it continues to operate flights normally and that its "payment obligations to DIAL are being fulfilled as per our regular schedule". The spokesperson also said that information suggesting that DIAL has issued a two-day deadline for payment is incorrect. "Our communications with DIAL are ong

SpiceJet stock slips 6% after DGCA puts co under 'enhanced surveillance'

The move comes after an audit of the airline's engineering facilities on August 7 and 8 revealed certain deficiencies.

DGCA places Spicejet under surveillance after audit reveals deficiencies

A senior DGCA official said that based on reports of cancellation of flights and financial stress being experienced by Spicejet Airlines, a special audit was conducted

Cash crisis: SpiceJet puts 150 cabin crew on furlough for 3 months

The airline, which has been making losses for the last six years, has been finding it difficult to pay employee salaries, sources mentioned

DGCA puts SpiceJet under enhanced surveillance, to increase spot checks

Aviation watchdog DGCA on Thursday decided to place crisis-hit SpiceJet under enhanced surveillance that will entail increased spot checks and night surveillance to ensure the safety of the airline's operations. Based on reports of cancellation of flights and financial stress being experienced by SpiceJet, DGCA said it conducted a special audit of the airline's engineering facilities on August 7 and 8 and certain deficiencies were found during the audit. "In light of the past record and the special audit carried out in August 2024, SpiceJet has once again been placed under enhanced surveillance with immediate effect. "This would entail an increase in the number of spot checks/ night surveillance with a view to ensure the safety of operations," the Directorate General of Civil Aviation (DGCA) said in a release.

Will settle all dues by September 30: SpiceJet to Delhi High Court

The lessors had filed a case against SpiceJet in December, claiming dues of more than $20 million for the engines

SpiceJet's domestic market share falls to 3.1% in July, shows DGCA data

SpiceJet had recorded a market share of 16 per cent in March 2020, just before COVID-19 spread across India. The airline has been recording losses for the last six years

Delhi HC refuses listing of Spicejet's plea against grounding of 3 engines

The Delhi High Court on Friday refused to grant an urgent listing of low-cost airline Spicejet's plea challenging an order to ground three aircraft engines by today and hand those over to the lessors within 15 days. The plea was mentioned for urgent hearing before a bench of Acting Chief Justice Manmohan and Justice Manmeet P S Arora. The bench said listing the plea during the day was not possible and it will be heard on August 20. "It is very difficult to list it today. Several judges are on leave today. Let the learned judges read the papers (case documents). We will have it on Tuesday," the bench said. Spicejet has challenged a single judge's August 14 order directing it to ground three engines by Friday and hand them over to their lessors within 15 days. The judge had directed the airline to offer prior inspection of the engines to the lessors -- Team France 01 SAS and Sunbird France 02 SAS -- through their authorised representative at the Delhi airport within seven days. Seni