Page 11 - Spicejet

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.

SpiceJet COO Kashyap, CCO Bhatia resign amid firm's cash-crunch issues

The firm is also dealing with multiple court cases regarding money owed to former owner Kalanithi Maran, financial services firm Credit Suisse, aircraft lessors, and engine lessors

SpiceJet resolves Rs 413 cr dispute with Echelon Ireland Madison One

Cash-strapped SpiceJet has resolved its third settlement in 2 weeks with Echelon Ireland Madison One, after Cross Ocean Partners and Celestial Aviation

Cash-strapped SpiceJet resolves Rs 93 cr dispute with Cross Ocean Partners

SpiceJet further stands to benefit from the 'transfer of airframe and an engine at no additional cost, augmenting its operational capabilities'

SpiceJet jumps 4% on reaching settlement deal with Cross Ocean Partners

SpiceJet in an exchange filing on Tuesday said, the airline reached settlement terms with aircraft leasing firm, Cross Ocean Partners, resolving a dispute worth Rs 93 crore.

'Abu Dhabi Investment Authority acquires SpiceJet shares from open market'

SpiceJet on Monday said Abu Dhabi's sovereign wealth fund ADIA has acquired shares of the airline from the open market. However, the carrier did not disclose specific details. A source close to the airline said Abu Dhabi Investment Authority (ADIA) started buying shares in late February. The no-frills carrier is facing multiple headwinds and is in the process of raising funds. "ADIA has acquired shares of the airline from the open market," a SpiceJet spokesperson said on Monday. In recent weeks, the carrier has raised a total of Rs 1,060 crore through preferential issuance of securities. On December 12, the airline had said it would raise fresh capital of Rs 2,250 crore. Shares of SpiceJet declined 1.50 per cent to Rs 62.58 apiece on BSE. As of February 21, 2024, public shareholders, including Foreign Portfolio Investors (FPIs), held 51.51 per cent stake in the carrier, according to stock exchange data.

SpiceJet settles $30 mn dispute with Celestial Aviation outside tribunal

SpiceJet had announced on February 22 that it had raised a second tranche of Rs 316 crore under the preferential issue of equity and warrants

SpiceJet settles Rs 250 cr dispute with aircraft lessor Celestial Aviation

Both parties reached out to the National Company Law Tribunal (NCLT) last week, and now the matter will officially be withdrawn on March 1

Kolkata-bound Spicejet flight from Delhi delayed 5 hrs due to hoax message

A Kolkata-bound Spicejet flight was delayed for more than five hours on Tuesday after the Delhi airport received a threat message about explosives being hidden in the passengers' luggage, official sources said. A woman carrying an infant has been detained by security agencies for questioning in the case, the sources said. The flight, SG-8263, was scheduled to depart around 5:40 am but it was allowed to leave only after 11:30 am after the security agencies completed an anti-sabotage check and repeat frisking of check-in and cabin baggage of the travellers and crew, they said. The airport duty manager at the Indira Gandhi International (IGI) Airport received an email around 5:20 am that "there is a safety issue" on the said flight and that "somebody was taking explosion goods in bags and luggage" onboard, a senior official said. The message was immediately flashed across and a bomb threat assessment committee comprising various security agencies and airport officials was convened. T

Matter 'practically settled' with Celestial Aviation: SpiceJet to NCLT

Counsel for Celestial told the tribunal that while they have received payments, the airline missed certain agreed-on deadlines for payment

SpiceJet rallies over 4% as it settles dispute with Celestial Aviation

With this, aircraft lessor Celestial Aviation, that had demanded unpaid dues of $30 million, is expected to withdraw its insolvency plea against the carrier

Reached settlement with Celestial Aviation, formalities remain: SpiceJet

SpiceJet informs NCLT of near resolution in dispute with aircraft lessor Celestial Aviation requested an adjournment to finalise the settlement process

Stocks to Watch today: Voda Idea, SpiceJet, Jana SFB, Angel One, Bandhan Bk

Stocks to watch on Thursday, February 22, 2024: Voda Idea, Texmaco Rail to consider fund raise proposals on February 27; Gujarat Ambuja Exports fixed record date for bonus issue.

Delhi HC orders SpiceJet to return leased engine to Brussels by March 10

Delhi HC orders SpiceJet to return leased engine to Brussels by March 10

SpiceJet raises second tranche of Rs 316 crore under preferential issue

On January 26, the first tranche of Rs 744 crore was infused into the airline. On January 11, the beleaguered airline's shareholders gave their approval to raise a total of Rs 2,241.5 crore

SpiceJet raises additional Rs 316 crore through preferential share issue

SpiceJet on Thursday said it has secured an additional Rs 316 crore, taking its total funds raised to Rs 1,060 crore through a preferential share issue. The fresh capital infusion in the struggling airline comes amid its recent announcement of slashing its workforce by 10-15 per cent. In January SpiceJet had received Rs 744 crore as the first tranche of funds through the allotment of securities on a preferential basis. On December 12, the airline had said it would raise fresh capital of Rs 2,250 crore through issuance of securities. "SpiceJet has raised an additional Rs 316 crore, bringing the total investments raised to Rs 1,060 crore under its preferential issue," the airline said in a statement. It added, "The Preferential Allotment Committee of SpiceJet's Board Directors convened on February 21, 2024, approved the allotment of 4.01 crore equity shares on a preferential basis to two investors, including Aries Opportunities Fund Limited." The committee also sanctioned the allot

You've money to buy Go First but not to pay Credit Suisse: SC to Ajay Singh

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

SpiceJet promoter Ajay Singh and Busy Bee Airways jointly bid for Go First

Sharjah-Based Sky One Also Bids for the Insolvent Airline

SpiceJet's Ajay Singh, Busy Bee Airways jointly submit bid for GoFirst

The bid has been submitted by SpiceJet Chairman Ajay Singh, in his personal capacity, along with Busy Bee Airways Private Limited