SpiceJet shares rise 5% as Carlyle settlement unlocks $89.5-mn liquidity

Buying in the SpiceJet stock came after the low-cost airline unlocked fresh liquidity of $89.5 million after a settlement with Carlyle Aviation Partners

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Shares of SpiceJet rose over 5 per cent on Thursday as the low-cost airline unlocked fresh liquidity of $89.5 million after a settlement with Carlyle Aviation Partners. 

 

The airline's stock rose as much as 5.41 per cent during the day to ₹34.8 per share, the biggest intraday rise since August 20 this year. The stock pared gains to trade 1.7 per cent higher at ₹33.6 apiece, compared to a 0.05 per cent advance in BSE Sensex as of 11:20 AM. 

 

Shares of the company advanced for the fifth straight session and currently trade at 4.1 times the average 30-day trading volume, according to Bloomberg. The counter has risen 33 per cent this year, compared to a 1.7 per cent advance in the benchmark Sensex. SpiceJet has a total market capitalisation of ₹4,333.12 crore.

SpiceJet secures $89.5 million in liquidity boost

The airline on Thursday said it has reached a settlement with Carlyle Aviation Partners, unlocking fresh liquidity to support its ongoing restructuring. As part of the agreement, the airline will gain access to cash maintenance reserves of $79.6 million for future aircraft and engine upkeep, along with $9.9 million in maintenance credits to offset lease obligations.

 

The settlement also involves the restructuring of lease liabilities worth $121.18 million in conjunction with the issuance of equity shares aggregating to $50 million. Further, if Carlyle and its affiliates realise proceeds above $50 million from the sale of these shares, part of the excess will be used to offset SpiceJet’s future lease obligations.

 

Additionally, the airline's promoter, or an assigned entity, will have the option to purchase the equity shares on mutually agreed terms after the expiry of the statutory and contractual lock-in periods.

 

"The support extended by Carlyle demonstrates their confidence in SpiceJet’s long‐term prospects," Ajay Singh, chairman & managing director, SpiceJet, said. "This transaction meaningfully reduces our liabilities, strengthens our balance sheet, and positions us well for sustainable growth."

SpiceJet Q1 results

The company reported a consolidated net loss of ₹236.6 crore in Q1FY26, impacted by grounded aircraft awaiting maintenance, airspace restrictions, and soft passenger demand following the June 12 Air India crash. The airline had posted a net profit of ₹158.6 crore in Q1FY25.

 

“On an Ebitda basis, the airline reported ₹(18) crore in Q1FY26 compared to ₹402 crore in Q1FY25. Passenger Revenue per Available Seat Kilometre (PAX RASK) stood at ₹4.74. Passenger Load Factor (PLF) remained strong at 86 per cent, underscoring SpiceJet’s resilience and continued customer preference,” SpiceJet said in a statement.