Page 11 - Spicejet

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

Bankrupt airline Go First's bidder ups bid following nudge from banks

Go First, which filed for bankruptcy in May last year, received two financial bids as part of its bankruptcy process, the second being Sharjah-based Sky One Airways, Reuters had reported

DGCA refuses to extend June 1 deadline to implement new FDTL rules

FDTL norms are important as they ensure adequate rest for pilots so that there is no untoward incident

SpiceJet soars 8% on securing 10 aircraft ahead of summer schedule

The Ajay Singh-led airline said it has finalised lease agreements for ten aircraft to bolster its capacity ahead of the upcoming summer schedule

SpiceJet adds 10 aircraft to fleet ahead of busy summer schedule

Low-cost carrier SpiceJet has finalised lease agreements for 10 aircraft to ensure seamless travel during the upcoming summer season

Several team members resigned as part of restructuring, says SpiceJet

On Monday, sources said the airline's Chief Operating Officer Arun Kashyap and Chief Commercial Officer Shilpa Bhatia have put in their papers

SpiceJet crashes 10% after COO, CCO step down amid 'restructuring'

SpiceJet, on its part, said several members of its commercial team have resigned with immediate effect, as part of a strategic restructuring at the airline

Several team members resigned as part of strategic restructuring: SpiceJet

SpiceJet on Tuesday said several members of its commercial team have resigned with immediate effect, as part of a strategic restructuring at the airline. On Monday, sources said the airline's Chief Operating Officer Arun Kashyap and Chief Commercial Officer Shilpa Bhatia have put in their papers. "As part of SpiceJet's strategic restructuring, several members of the commercial team including the Chief Commercial Officer have left the company with immediate effect," an airline spokesperson said in a statement on Tuesday. With the recent fundraise, the spokesperson said it is speeding up the process of resolution of all past disputes, and continues to see significant growth in revenue and load factor.