Page 14 - Spicejet

NCLT rejects insolvency plea against SpiceJet by lessor Willis Lease

In a relief to low-cost carrier SpiceJet, the National Company Law Tribunal (NCLT) on Monday dismissed an insolvency petition by aircraft lessor Willis Lease Finance Corporation which is claiming dues. A two-member Delhi-based NCLT bench rejected the plea moved by US-based Willis Lease Finance Corporation after SpiceJet questioned the maintainability of the petition. SpiceJet opposed the plea contending that Willis Lease Finance Corp has withdrawn its insolvency plea for the same dispute in March 2023 and has approached again with a new plea. During a hearing in July this year, the NCLT bench wanted to know from Willis Lease Finance Corp, as to how it filed a fresh petition again for a similar cause of action within a few months, without even sending a notice to SpiceJet as per the provisions of the Insolvency and Bankruptcy Code, 2016. Besides Willis Lease, SpiceJet is facing insolvency pleas filed by three other aircraft lessors -- Aircastle Ireland Ltd, Wilmington, and Celestial

SpiceJet promoter Ajay Singh looking to raise $100 mn through credit funds

Ajay Singh is reportedly in discussions with global private credit funds to refinance part of promoter debt and equity infusion

1/4th of Indian carriers' aircraft may be grounded by March-end: CAPA

Meanwhile, domestic traffic is expected to grow by 15 per cent Y-o-Y in 2023-24 to 155 million, according to the report

SpiceJet hits 52-week high on heavy volumes; stocks surges 27% in 3 days

The average trading volumes at the counter jumped four-fold today, with 21.24 million equity shares changing hands on the BSE till 12:23 PM.

SpiceJet records lowest OTP at 60.11% among all major Indian carriers

SpiceJet's operations in October were also affected due to its involvement in repatriation operations from Tel Aviv

SpiceJet inducts 5 leased Boeing 737, three 737 Max aircraft into its fleet

The airline had on June 9 said that it would induct ten Boeing 737 aircraft into its fleet to cater to the increased passenger demand

SpiceJet flight with 286 passengers arrives in Delhi amid Israel conflict

A SpiceJet flight with 286 passengers, including 18 Nepalese nationals, from Tel Aviv landed at the Delhi airport on Tuesday. This is the fifth flight to be operated under the government's Operation Ajay to facilitate the return of Indians who wish to come back from Israel where an intense conflict is going on with the militant group Hamas. In a post on social media platform X, External Affairs Ministry spokesperson Arindam Bagchi said that 286 passengers, including 18 Nepalese nationals, arrived on board the fifth flight under Operation Ajay. He also shared pictures of the passengers being welcomed at the airport by Minister of State for Information and Broadcasting L Murugan. According to the Kerala government, there were 22 people from the state among the passengers who arrived in the flight. The SpiceJet aircraft A340 had faced a technical issue after landing at Tel Aviv on Sunday and the plane was taken to Jordan to rectify the problem. After fixing the issue, the plane retu

Stocks to Watch today: HDFC Bank, Grasim, JFS, Sugar, Ceat, SpiceJet, BoM

Stocks to watch on Oct 17, 2023: HDFC Bank reported a 50 per cent jump in net in its first results after merger with HDFC; Jio Financial posted 100 per cent growth in net post demerger from Reliance.

Spicejet, lessor reach interim settlement, next hearing in February

SpiceJet is supposed to pay over $2 million to the engine lessor by January according to settlement terms

Operation Ajay: SpiceJet aircraft faces technical issue in Tel Aviv

A SpiceJet aircraft that operated a flight from the national capital to Tel Aviv on Sunday is facing a technical issue and the plane has been taken to Jordan to rectify the problem, according to sources. SpiceJet had operated the flight, with an A340 aircraft, under Operation Ajay. On Monday, the sources said that after landing at Tel Aviv, a technical issue was detected in the aircraft. To rectify the problem, the plane has been taken to Jordan, which was the nearest place that has the facilities to look into the issue, they added. There was no immediate comment from SpiceJet. On Sunday, SpiceJet said it will be operating a flight with an A340 plane to Tel Aviv. Operation Ajay has been launched by the government to facilitate the return of Indians who wish to come back from Israel where an intense conflict is going on with militant group Hamas.

Engine lessor and SpiceJet arrive at $2 million interim settlement: Report

The engine lessor has agreed not to pursue the stay application against SpiceJet for the time being

These 2 factors dragged SpiceJet 11% lower today after surging 19% Friday

SpiceJet stock news: The stock of SpiceJet had soared 19.4 per cent last Friday, October 13, after a report had said that Gangwal was looking to buy stake in the airline

SpiceJet to operate its second flight to Tel Aviv under Operation Ajay

SpiceJet on Sunday said it will be operating a flight from the national capital to Tel Aviv and a group of 120 Israeli nationals, among others, will be onboard the aircraft. It will be the second flight to be operated by SpiceJet under Operation Ajay to bring back Indians from Israel where tensions are high in the wake of the conflict with the militant group Hamas. The airline will operate a flight with an A340 aircraft from Delhi to Tel Aviv on Sunday and the flight will return on Monday morning. "A group of 120 Israeli nationals, among others, will be travelling from Delhi to Tel Aviv on the SpiceJet flight. SpiceJet's first evacuation flight from Israel, carrying 320 Indian passengers, touched down in Delhi at 8.10 am today," the airline said in a statement. Against the backdrop of the Israel-Hamas conflict, Air India and SpiceJet have operated four flights to and from Tel Aviv since Friday.

Air India, SpiceJet to operate one flight each to Tel Aviv on Saturday

Air India and SpiceJet will operate one flight each to Tel Aviv on Saturday to bring back Indians amid escalating tensions due to the conflict between Israel and Hamas, according to officials. These chartered flights will be operated under Operation Ajay, which the government has launched to facilitate the return of those who wish to come back from Israel. The officials in the know said Air India will be operating a flight from the national capital to Tel Aviv while SpiceJet will operate a flight from Amritsar to Tel Aviv. Both flights are expected to return and land at the Delhi airport on Sunday morning, they added. One of the officials said Air India is scheduled to operate another flight to Tel Aviv on Sunday. On Saturday morning, an Air India flight AI 140 returned to the national capital with 235 Indians from Israel. On Friday morning, more than 200 people had come from Tel Aviv in an Air India flight, which was also the first under Operation Ajay. Minister of State for Ext

IndiGo co-founder Rakesh Gangwal may buy stake in SpiceJet? Shares soar

Currently, the promoter group in SpiceJet, which includes Ajay Singh and his family, and Spice Healthcare, own 56.5 per cent stake in the airline

IndiGo co-founder Gangwal in talks to buy 'sizable' stake in SpiceJet

IndiGo shares were up 0.9% in afternoon trading on Friday

Average daily domestic traffic increased by 1.65%, Oct upswing anticipated

Overall domestic demand remained high, with four out of six major carriers reporting load factors of over 90 per cent in September

SpiceJet, aircraft lessor Celestial Aviation working towards settlement

Budget carrier SpiceJet and aircraft lessor Celestial Aviation are working towards settlement, which is in the advanced stage, insolvency tribunal NCLT was informed on Tuesday. During the proceedings, counsel appearing in the matter informed about the development and requested the National Company Law Tribunal (NCLT) to adjourn the matter, which was accepted. The development came during the hearing of a plea filed by Celestial Aviation Services Ltd, an operational creditor, to initiate insolvency proceedings against the airline. A two-member NCLT bench directed to list the matter on November 7 for the next hearing. According to some reports, Celestial Aviation Services Ltd is claiming a default of USD 29.9 million for nine aircraft. It is the fifth lessor, which had moved against SpiceJet. Some other lessors such as Willis Lease Finance, Aircastle and Wilmington have also moved pleas to initiate insolvency proceedings against SpiceJet before the NCLT. Earlier on September 5, NCLT

Delhi HC defers hearing to Oct 9 hearing in Spicejet vs Maran case

SpiceJet on 12 September paid Maran Rs 100 crore out of an order of Rs 380 crore for an arbitral award

SC tells Spicejet to pay Credit Suisse $1 mn per month for six months

SpiceJet said that the apex court can send the airline's chairman and managing director, Ajay Singh, to exile if the undertaking is not honoured