Page 10 - Spicejet

SpiceJet faces new financial crisis over unpaid provident fund dues

SpiceJet faces new financial crisis: The last provident fund deposit by SpiceJet was made in January 2022 for 11,581 employees, as revealed by a query sent to the EPFO

SpiceJet faces contempt notice if engines not returned to lessor by July 8

The Delhi High Court has warned SpiceJet of contempt if it fails to return three engines to TWC Aviation by July 8, noting the airline's significant debt

Delhi Airport T1 roof collapse disrupts 22k passengers, shift to T2 and T3

Delhi Airport T1 roof collapse: IIT Delhi structural engineering department to conduct independent assessment of Terminal 1. Operations at T1 will not resume till the assessment is complete

Delhi airport T1 roof collapse: Over 20 flights cancelled on Jun 29

More than 20 flights of IndiGo that were to operate from Terminal 1 of the Delhi airport were cancelled on Saturday, a day after the terminal was shut down following the roof collapse incident. A source in the know said 23 flights of IndiGo and 2 flights of SpiceJet that were scheduled to operate from T1 were cancelled on Saturday. There was no immediate comment from IndiGo. However, a SpiceJet source said it has shifted all T1 operations to T3 and all flights were operated on Saturday. Following the roof collapse incident, the operations at T1 were suspended on Friday. The flights that were to be operated from the terminal have been shifted to Terminal 2 (T2) and Terminal 3 (T3). On Friday, Delhi airport operator DIAL said it has set up a technical committee to probe the roof collapse at the airport's Terminal 1 and the primary cause of the incident seems to be continued heavy rainfall.

AC in Delhi-Darbhanga flight 'experienced slight inefficiency': SpiceJet

No-frills carrier SpiceJet on Wednesday said the air conditioning in its Delhi to Darbhanga flight "experienced slight inefficiency" during boarding at Delhi Airport even as media reports suggested that passengers had to wait inside the aircraft for an hour without air-conditioning. The air-conditioning, however, kept working normally throughout the journey and the flight also departed on time, SpiceJet said. "SpiceJet flight SG 476 from Delhi to Darbhanga on June 19, scheduled to depart at 11 am, departed on time without any delays. During the boarding in Delhi, the air conditioning initially experienced slight inefficiency due to extreme weather conditions and both doors of the aircraft being open, as boarding was not via the aerobridge," the Gurugram-based domestic carrier said in a statement. The airline's statement came amid media reports that passengers of SpiceJet's Darbhanga flight from Delhi had to wait inside the aircraft without air-conditioning for an hour. The airline

Stocks to Watch, June 18: Vodafone Idea, IndiGo, LIC, Pidilite Industries

Asia-Pacific markets were buzzing ahead of the Reserve Bank of Australia's rate decision

SpiceJet's domestic passenger market share drops below Akasa Air in May

SpiceJet carried 554,000 passengers in May, a drop of about 10 per cent month-on-month (MoM). On the other hand, Akasa Air carried 664,000 passengers in May, a jump of about 14.5 per cent MoM

NCLT to hear insolvency plea filed by ELF against SpiceJet on August 2

The National Company Law Tribunal (NCLT) has issued a notice to SpiceJet over an insolvency plea filed by Engine Lease Finance BV, an aircraft engine lessor of the debt-ridden air carrier. The single-member NCLT bench has asked SpiceJet to file a response over the Engine Lease Finance (ELF) plea and directed listing the matter for hearing on August 2, 2024. During the proceedings, SpiceJet raised objections over the maintainability of the plea, in which ELF has claimed a payment default of over USD 12 million (around Rs 100 crore). ELF has leased eight engines to SpiceJet. Along with interest and rental, ELF has claimed around USD 16 million dues. Earlier, the matter was listed before a Delhi-based bench of the NCLT on May 29. SpiceJet had then raised objections against ELF's plea citing technical defects and the tribunal gave the engine lessor an opportunity to rectify the errors. On Wednesday, when the defects were rectified, the insolvency tribunal issued a notice to the ...

SpiceJet halts Hyderabad-Ayodhya flights, less than 2 months after launch

SpiceJet has discontinued direct flights between Ayodhya and six other cities amid tourism decline in the city

SpiceJet aims to raise $250 mn in coming months, says CEO Ajay Singh

SpiceJet Chief Ajay Singh on Wednesday said the airline will be raising around USD 250 million in the next couple of months as the budget carrier works on boosting its operations. The airline is tackling multiple headwinds, including lessor and debt woes, with Singh saying the carrier has faced "significant black swan events". "It is difficult to kill SpiceJet....and we are trying to fix the problems," he said and asserted that the airline's balance sheet will be cleaned up over the next two quarters. Recently, the airline raised USD 150 million and is looking for more funds. The airline plans to raise USD 250 million in the next couple of months and there is a bright enough future, Singh said at the CAPA India Aviation Summit in the national capital. Currently, the carrier has wet leased some aircraft as many of its planes are grounded due to various reasons. "We will grow our own fleet," Singh, the Chairman and Managing Director of the airline, said. Singh also said it is crit

SpiceJet cancels Chennai flights till June 10, cites 'operational reasons'

Sources said that the airline has cancelled a total of about 60 flights until June 10 to and from the Chennai airport due to the aforementioned suspension

Lessor moves insolvency plea before NCLT against SpiceJet over $12 mn

Engine Lease Finance BV, an aircraft engine lessor of SpiceJet, has moved an insolvency plea before the NCLT against the debt-ridden air carrier over non-payment of over USD 12 million (around Rs 100 crore). Engine Lease Finance (ELF) has leased eight engines to SpiceJet. Along with interest and rental, ELF has claimed an amount of around USD 16 million. The matter was listed before a Delhi-based bench of the National Company Law Tribunal (NCLT) on Wednesday, which heard it briefly. Counsel appearing for SpiceJet sought time to respond to the petition filed by Engine Lease Finance. On this, the NCLT bench comprising members Mahendra Khandelwal and Sanjeev Ranjan directed SpiceJet to file its response to the petition. Headquartered in Shannon, Ireland, ELF is the world's leading independent engine financing and leasing company. It entered into an agreement in 2017 with SpiceJet to lease engines. According to the petitioner, the low-budget carrier has defaulted on payments since Apr

Claims of KAL Airways, Maran on damages 'legally untenable': SpiceJet

In an escalation of the ongoing dispute, SpiceJet on Tuesday said the claims made by KAL Airways and Kalanithi Maran for more than Rs 1,323 crore in damages are baseless and legally untenable. On Monday, KAL Airways and Kalanithi Maran said they will seek more than Rs 1,323 core in damages from SpiceJet and its chief Ajay Singh as well as challenge the recent Delhi High Court order in the ongoing dispute between the two sides. In a regulatory filing, SpiceJet said it strongly refutes the claims made by KAL Airways and Maran regarding seeking damages of Rs 1,323 crore. "These assertions are not only legally untenable but also a regurgitation of previously rejected claims by the arbitral tribunal and then the Delhi High Court," the airline said in the filing on Tuesday. According to the carrier, KAL Airways and Maran initially sought damages of more than Rs 1,300 crore during the arbitration proceedings. "This claim was thoroughly examined and subsequently rejected by a panel of thr

Kalanithi Maran seeks Rs 1,323 cr in damages, SpiceJet refutes claims

KAL Airways and its promoter Kalanithi Maran have decide to challenge an arbitral award requiring SpiceJet and Ajay Singh to refund Rs 579 crore plus interest to Maran

NMDC, Dish TV, Adani Energy, SpiceJet among five stocks to watch on May 28

Stocks to watch on May 28: NMDC reported a significant downturn in net profit, which decreased by 37.8 per cent to Rs 1,412.7 crore compared to Rs 2,271.5 crore in the previous year

KAL Air, Maran to seek Rs 1,323 crore in damages from SpiceJet, Ajay Singh

For the last several quarters, SpiceJet has been grappling with a cash crunch amid multiple legal battles over unpaid dues to aircraft lessors, engine lessors, lenders, and Maran

Leh-bound SpiceJet flight suffers bird hit; returns safely back to Delhi

A Leh-bound SpiceJet aircraft suffered a bird hit on Sunday morning and returned to the national capital, according to the airline. The plane landed back safely and the passengers were deplaned normally. A source said the Boeing 737 plane had around 135 people onboard. In a statement, SpiceJet said the aircraft operating SG 123 from Delhi to Leh returned back to the national capital after suffering a bird hit on engine 2. "The aircraft landed back safely in Delhi and passengers were deplaned normally," it said. The airline also said the aircraft made a normal landing and not an emergency landing. Earlier, the source said that a full emergency was declared at the airport and the aircraft, which took off at around 1030 hours, landed safely at about 11 am. The plane returned due to engine vibrations, the source added.

GoAir crisis: EaseMyTrip's Pitti withdraws bid for the bankrupt airline

More than three months after jointly bidding for Go First, travel portal EaseMyTrip's CEO Nishant Pitti on Saturday said he was withdrawing the bid for the bankrupt airline. Busy Bee Airways, majority-owned by Pitti, along with SpiceJet Chief Ajay Singh, had put in a bid for Go First, which is undergoing an insolvency resolution process, in February. Pitti said after careful consideration, he decided to withdraw the bid for Go First in his personal capacity. "The decision allows me to better focus on other strategic priorities and initiatives that align with our long-term vision and growth objectives," he said in a statement. The latest move also comes less than a month after the Delhi High Court allowed lessors to take back 54 planes leased to Go First. On April 26, Pitti had said he will consider any necessary adjustments to its proposed offer for the grounded airline after reviewing the court order. It could not be immediately ascertained whether Ajay Singh will be pursuing th

SpiceJet to seek Rs 450 cr refund from former promoter Kalanithi Maran

Airline taking step after Delhi High Court gave it reprieve in share transfer dispute

SpiceJet to seek refund of Rs 450 crore from Kalanithi Maran and his firm

Private airline SpiceJet has already disbursed Rs 730 crore to Maran and his firm, of which, Rs 580 crore represents the principal amount, with an additional interest component of Rs 150 crore