Spicejet

SpiceJet to operationalise 3 grounded B737 MAX planes by April 2025

SpiceJet has entered into an agreement with US-based StandardAero that will provide the services for operationalising the airline's grounded Boeing 737 MAX planes and three of the aircraft are expected to return to service by April 2025. Seven Boeing 737 MAX aircraft of the no-frills carrier are on the ground. The airline has inked an agreement with MRO (Maintenance, Repair and Overhaul) services provider StandardAero for enabling restoration of its grounded Boeing 737-8 MAX fleet, according to a release on Friday. StandardAero is also a MRO services provider for CFM LEAP-1B engines, which power SpiceJet's Boeing 737 MAX planes. The agreement with StandardAero follows successful arrangements with CFM International -- the manufacturer of LEAP-1B engines -- and the lessor for the Boeing 737 MAX aircraft. "These developments pave the way for the un-grounding and return to service of three Boeing 737 MAX aircraft by April 2025," SpiceJet said in the release. SpiceJet Chairman and Man

Aircraft lessor Genesis to buy SpiceJet's stake to settle $16 mn dispute

SpiceJet on Thursday said aircraft lessor Genesis will acquire a stake worth USD 4 million in the airline as part of settling a more than USD 16 million dispute. For the settlement, the airline will also pay USD 6 million to Genesis. The budget carrier, which recently raised Rs 3,000 crore amid financial headwinds, has been settling various disputes with lessors and other entities. Subject to the settlement terms being satisfied, SpiceJet said both parties have agreed to withdraw all ongoing litigations and disputes related to this matter at the appropriate forums. In a release, the airline said it has reached an amicable settlement with Genesis, resolving their over USD 16 million dispute. 'Under the agreement, SpiceJet will pay Genesis USD 6 million and Genesis will acquire USD 4 million in SpiceJet equity at a price of Rs 100 per share,' it said. In September, Carlyle Aviation agreed to convert USD 30 million of lease arrears into SpiceJet equity at Rs 100 per share. Earlier,

SpiceJet shares take off 8% on settling $16 mn dispute with Genesis

Shares of SpiceJet rallied up to 7.85 per cent at SpiceJet per share on the BSE in Thursday's intraday deals

Delhi HC summons SpiceJet COO, CEO over non-payment of dues to lessors

The Delhi High Court has directed the chief operating officer and chief executive officer of SpiceJet to appear before it in a plea seeking compliance of over USD 6.03 lakh in payment to the aircraft engines lessors. Justice Manmeet PS Arora "specifically denied" the request of the counsel for judgement debtor, SpiceJet, for the appearance of the two senior officers before the court through video conferencing. "The chief operating officer (COO) and chief executive officer (CEO) of the judgement debtor are directed to remain present in court on the next date of hearing, that is, January 16, 2025," the court said in its order on December 10. The court was hearing an application by the decree holder and aircraft engine lessor Team France 01 SAS and another, seeking a direction for the compliance of the consent order passed on May 29 wherein the airline was directed to make the payment of USD 6,03,870.82 to the decree holders. In the recent hearing, Spicejet's counsel urged the court t

SpiceJet clears Rs 160 crore pending employee provident fund dues

SpiceJet on Friday said it has cleared all employee provident fund dues worth Rs 160.07 crore that were pending for over two years. The low-cost carrier, which has been facing multiple headwinds, recently raised Rs 3,000 crore, following which it has been clearing statutory, GST (Goods and Services Tax) and other dues. Employee provident fund dues amounting to Rs 160.07 crore, spanning over two years, have been cleared, the airline said in a release. According to the release, since October, SpiceJet has been utilising its internal cash flows to meet its statutory obligations, including provident fund and TDS (Tax Deduction at Source) payments, the release said. The airline has also resolved various disputes with aircraft lessors and other creditors. Shares of SpiceJet rose 1.38 per cent to close at Rs 58.59 apiece on BSE.

SpiceJet set to hold annual general meeting for FY24 on December 30

SpiceJet will hold its annual general meeting for the 2023-24 financial year on December 30. At the meeting, the airline will seek shareholders' approval for increasing the authorised share capital to infuse fresh share capital, according to a regulatory filing on Saturday. Approvals will also be sought for the re-appointment of Ajay Singh as a director, appointment of Sonum Gayatri Malhotra as an independent director and for adopting audited financial statements for the 2023-24 fiscal year. The meeting will be held on December 30. Currently, the company's authorised share capital is Rs 15,000,000,000. The filing said in order to facilitate the infusion of fresh share capital in the company, it is necessary to increase the authorised share capital to Rs 20,000,000,000.

SpiceJet secures rights to operate 100 Haj flights from 4 cities in 2025

Haj services have become a critical revenue stream for the airline with Spicejet anticipating to earn Rs 185 crore from these flight operations in 2025

Aircastle drops insolvency case against SpiceJet after $5.6 mn settlement

Earlier in November, the airline had announced the resolution of a $23.39 million dispute involving Aircastle (Ireland) Designated Activity Company and Wilmington Trust SP Services (Dublin) Ltd

SpiceJet flies 3% after lessor Aircastle withdraws insolvency case

Last month, SpiceJet announced the resolution of a $23.39 million dispute with Aircastle (Ireland) designated activity company and Wilmington Trust SP Services (Dublin) Limited

IndiGo, SpiceJet up 3% after domestic air traffic crosses 5 lakh on Nov 17

t was the first time that domestic air passenger traffic crossed the 5,00,000 mark in a single day.

Stocks to watch, Nov. 19: NTPC, Waaree Energies, Bajaj Fin, ITI, SpiceJet

Here is a list of stocks that will be in the limelight for November 19 session

Over 370 flights delayed at Delhi airport as smog engulfs national capital

According to Flightradar24 data, till 2 PM, about 110 arrivals were delayed at the national capital's airport. Moreover, about 269 departures were also delayed at this airport

SpiceJet faces fresh insolvency pleas from Sabarmati Aviation, JetAir 17

Two more insolvency petitions were filed by Sabarmati Aviation and JetAir 17 against budget carrier Spicejet at the National Company Law Tribunal (NCLT) on Monday. The NCLT issued a notice to the airline over the plea by operational creditor Sabarmati Aviation while asking another complainant, JetAir 17, to file additional documents in support of its claims of USD 27 million. During the proceedings, senior advocate Krishnendu Datta representing SpiceJet submitted that a reply would be filed over the plea of Sabarmati Aviation. However, he opposed the plea of JetAir 17 contending that their claims as an operational creditor are disputed. In the matter of JetAir 17, the NCLT asked the company to file additional documents to support its claims as SpiceJet contended that it has not entered into a lease agreement with it. JetAir 17, an Irish company, operates within the renting and leasing of air passenger transport equipment industry. Dutta submitted that JetAir 17 is claiming its du

SpiceJet clears $90.8 million EDC debt, secures full ownership of 13 planes

As part of the settlement, SpiceJet has acquired full ownership of 13 Q400 aircraft previously financed by EDC

SpiceJet stock flies 4% after settling dispute, acquiring 13 Q400 Aircrafts

SpiceJet share price jumped up to 4.1 per cent at Rs 55.87 per share on the BSE in Thursday's intraday deals

Crisis-hit SpiceJet's AGM for 2023-24 to be held on or before Dec 31

SpiceJet on Wednesday said the annual general meeting for 2023-24 will be held on or before December 31 as the company has been given up to three more months to conduct the meeting. The crisis-hit carrier, which had recently raised Rs 3,000 crore, said it had received emails from the BSE regarding the non-submission of the annual report for the financial year ended March 31, 2024. "In this regard, we wish to inform you that the company has obtained an extension of up to three (3) months from the Registrar of Companies under Section 96 of the Companies Act, 2013, for conducting the Annual General Meeting (AGM) of the company for the financial year ended March 31, 2024," it said in a filing. Further, the airline said the AGM will be held on or before December 31, 2024, and the annual report for the 2023-24 fiscal will be sent to all stakeholders in terms of the Companies Act, 2013, read with Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

SpiceJet shares rise 4% on launching 8 new domestic flights by November 15

This expansion follows the recent launch of 32 new flights in October 2024, including two international flights connecting Delhi with Phuket

SpiceJet resolves $4.5 mn dispute with Shannon Engine support for $2 mn

SpiceJet's series of settlements follows its successful Rs 3,000 crore fundraise in September through a Qualified Institutional Placement

SpiceJet's domestic passenger market share shrinks to 2%, says DGCA

Overall, the Indian carriers carried a total of 13.027 million domestic passengers, which was 6.38 per cent more year-on-year

DGCA removes 'enhanced surveillance' of SpiceJet after fund infusion

Random spot checks of low-cost carrier's operational aircraft will continue, says regulator