Page 12 - Spicejet

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

SpiceJet promoter Ajay Singh, Busy Bee Airways bid for bankrupt Go First

SpiceJet announced that it would act as the operating partner for the new airline, providing staff and services

SpiceJet drops 5% after report says airline mulls laying off 1.4K employees

The fall also comes ahead of the Delhi High Court-set deadline where the airline was ordered to pay $4 million to its engine lessors Team France 01 SA and Sunbird France 02 SAS by February 15

Cash-strapped SpiceJet to lay off 1,400 employees as cost-cutting measure

As part of cost-cutting measures aimed at sustaining investor interest, SpiceJet will reduce around 15% of its workforce

Airlines record lowest on-time figures in 11 months in Jan amid fog issues

DGCA and aviation security regulator Bureau of Civil Aviation Security (BCAS) on January 17 came down heavily on three airlines namely IndiGo, SpiceJet and Air India

Delhi High Court tells SpiceJet to pay Rs 50 crore to Kalanithi Maran

The court said the payment shall be made subject to the outcome of SpiceJet's appeal challenging the interest amount awarded by the arbitral tribunal

SpiceJet deposits Rs 100 cr TDS for FY23, employees to get Form-16s soon

The airline has used various avenues to raise cash. In the financial year 2022-23, the airline raised Rs 449.8 crore under the central government's Emergency Credit Line Guarantee Scheme

SpiceJet to launch eight flights to Ayodhya on Feb 1, Scindia to inaugurate

SpiceJet will launch eight new flights to Ayodhya from different places on February 1, according to an official. Civil Aviation Minister Jyotiraditya Scindia will inaugurate the flights. The flights will connect Ayodhya with Delhi, Chennai, Ahmedabad, Jaipur, Patna, Darbhanga, Mumbai and Bengaluru, the official said. The official said that more people are visiting Ayodhya after the consecration ceremony at the Ram Temple. The Maharishi Valmiki International Airport at Ayodhya Dham was inaugurated earlier this month.

NCLT rejects Wilmington Trust's insolvency petition against SpiceJet

In a relief to low-cost carrier SpiceJet, the National Company Law Tribunal (NCLT) on Monday dismissed an insolvency petition filed against the company by aircraft lessor Wilmington Trust SP Services. A Delhi-based bench of NCLT comprising members Mahendra Khandelwal and Rahul Prasad Bhatnagar dismissed the petition of the aircraft lessor based in Dublin, Ireland. Wilmington moved the insolvency plea against SpiceJet in June 2023 over unpaid dues. Last month NCLT had dismissed an insolvency petition by another aircraft lessor, Willis Lease Finance Corporation, which was also claiming dues. SpiceJet faced insolvency pleas filed by its aircraft lessors, including Willis Lease, Aircastle Ireland Ltd, Wilmington, and Celestial Aviation. However, NCLT has issued notice only on the petition filed by Aircastle so far. Earlier, the Delhi High Court directed SpiceJet to pay USD 4 million to its two engine lessors, Team France 01 SAS and Sunbird France 02 SAS, by February 15.

Pay $4 million to engine lessors by February 15, Delhi HC tells SpiceJet

The airline had sought more time for payment and said they could pay $1 million upfront. SpiceJet is supposed to pay close to $11 million to the lessors

Fund raising plan: SpiceJet receives first tranche of Rs 744 crore

SpiceJet, which has been facing multiple headwinds, on Friday said it has received Rs 744 crore as the first tranche of funds being raised through 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. According to a release, on January 25, the company's board of directors approved the allotment of 5.55 crore equity shares on a preferential basis to 54 subscribers. The airline has allotted shares and warrants totalling Rs 744 crore on a preferential basis in the first tranche. The board has also approved the allotment of 9.33 crore warrants to Elara India Opportunities Fund Ltd and Silver Stallion Ltd. Meanwhile, the airline has requested for additional time from the competent authority to complete the process under the ongoing preferential issue, as per the release. The extension has been sought due to limited banking days arising from long weekends during the intervenin

Ram mandir inauguration: SpiceJet offers bookings starting at Rs 1,622

Ram mandir consecration: SpiceJet said the booking is available on select flights for limited seats from January 22-28, 2024

SpiceJet passenger gets stuck in lavatory mid-air, airline apologises

For almost an hour, a SpiceJet passenger was stuck inside an aircraft lavatory mid-air, a cabin crew slipped in a note saying "do not panic" and finally the passenger came out after an engineer opened the door on landing at the Bengaluru airport. Malfunctioning of the lavatory door led to the passenger getting stuck onboard the flight from Mumbai to Bengaluru on Tuesday. The flight was operated with a Boeing 737-8 aircraft. SpiceJet apologised for the inconvenience caused to the passenger and will also provide a full refund. As the passenger kept waiting in the lavatory, a cabin crew slipped in a note asking the passenger not to panic and that despite trying their best, the door could not be opened. "Do not panic, we are landing in few mins, so please close the comode lid and sit on it and secure urself as soon as the main door is open, engineer will come. Do not panic," the handwritten note widely shared on social media said. An official said the Directorate General of Civil Avia

DGCA looking into incident of SpiceJet passenger getting stuck in lavatory

In an unfortunate mid-air incident on Tuesday, a SpiceJet passenger was stuck inside an aircraft lavatory for around an hour due to malfunctioning of the door lock. The incident occurred onboard the flight from Mumbai to Bengaluru on Tuesday, and the airline is providing a full refund to the passenger, according to a SpiceJet spokesperson. The airline has also apologised for the inconvenience caused to the passenger. Soon after landing at the Bengaluru airport, an engineer opened the lavatory door and the passenger came out. Details about the passenger could not be immediately ascertained. "On 16 January, a passenger unfortunately got stuck inside the lavatory for about an hour on SpiceJet flight operating from Mumbai to Bengaluru, while the aircraft was airborne due to a malfunction in the door lock. "Throughout the journey, our crew provided assistance and guidance to the passenger. Upon arrival, an engineer opened the lavatory door, and the passenger received immediate medical

SpiceJet announces special Delhi-Ayodhya flight for Ram temple ceremony

Ram temple inauguration ceremony: SpiceJet also assured the availability of a return flight

SpiceJet gets shareholder nod to raise Rs 2.2K cr by issuing equity

Mahapatra family now owns 21.94 per cent shares in SpiceJet; Ajay Singh's shareholding reduces from 56.48 per cent to 38.55 per cent