SpiceJet's plan to hive off cargo business faces challenge from creditors

Ajay Singh-led SpiceJet’s plans to hive off its logistics and cargo business into a separate entity called SpiceXpress is facing legal hurdles, with lenders and aircraft lessors challenging the move.

One of SpiceJet’s lessor Goshawk, along with its trustees, has moved the Delhi High Court (HC), asking for an injunction on the airline’s plan to transfer any of its assets to a separate company until the airline clears its pending dues of around $16.2 million as lease rentals on three aircraft.

In its interim order, the Delhi HC has restrained SpiceJet from alienating the assets.

“Till further orders, the judgment debtor is restrained