Page 10 - Spicejet

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

Delhi High Court orders SpiceJet to return leased aircraft, engines to TWC

SpiceJet, which currently owes $14 million to TWC, had its offer to pay $435,000 a month to clear its dues rejected

HC sets aside order directing SpiceJet to pay Rs 270 cr to Kalanithi Maran

Kal Airways and Maran had moved the Delhi High Court on August 9, 2023, seeking 50 per cent of the daily revenue collection of low-cost carrier SpiceJet to be paid to them on a weekly basis

HC sets aside order directing SpiceJet to pay Rs 270 cr to Kalanithi Maran

The Delhi High Court overturned a single judge's ruling that upheld the validity of an arbitral award in favour of Kalanithi Maran

Delhi HC asks SpiceJet to pay Rs 50 cr or face grounding of two engines

Justice Pratibha Singh instructed the SpiceJet counsel to obtain guidance by May 3 regarding the feasible time period for SpiceJet to pay Rs 50 crore to its lessors

Three aircraft lessors take SpiceJet to court over unpaid dues of Rs 77 cr

Celestial Aviation, Willis Lease Finance, Aircastle, and Wilmington had also filed applications against SpiceJet in 2023 for outstanding dues

SpiceJet to soon receive Q400 plane as part of settlement with lessor NAC

SpiceJet on Tuesday said it will soon be receiving a Q400 aircraft as part of the settlement reached with lessor Nordic Aviation Capital (NAC) last year. The airline has settled all past liabilities for the Q400 planes leased from NAC, and under the settlement agreement it already has five Q400 aircraft. "The ownership of these planes has been transferred to SpiceJet," the airline said and added that the sixth Q400 plane is en route to India from Germany. The aircraft is expected to arrive in Delhi soon. The carrier, which is taking various measures to deal with multiple headwinds, recently announced four major settlements with key aircraft lessors. According to the airline, these settlements will result in substantial savings of Rs 1,252 crore.

Stocks to watch on March 27: Aster DM, Adani Ports, CDSL, SpiceJet, L&T

Stocks to watch on March 27: SpiceJet on Tuesday said it had signed an agreement with aircraft lessor Export Development Canada (EDC) to settle liabilities worth Rs 755 crore

SpiceJet settles Rs 755 crore liabilities with aircraft lessor EDC

This will allow airline to own 13 of the 15 Bombardier Q400 aircraft financed by the Canadian agency

SpiceJet to own 13 Bombardier Q400 planes after $91 mn settlement

SpiceJet has over the last few months reached settlements with multiple lessors, including Aercap, as the company looks to restore its grounded fleet and return to full capacity

SpiceJet cleared all outstanding dues: Credit Suisse tells Supreme Court

Credit Suisse and SpiceJet have been entangled in a legal conflict since 2015 over outstanding debts of approximately $24 million