Page 15 - Spicejet

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

SC allows SpiceJet to pay Credit Suisse in instalments over 6 months

After six months of payments, SpiceJet's Ajay Singh has to pay regular instalments of $500,000 to Credit Suisse

SpiceJet pays $1.5 million to Credit Suisse as per SC's directive

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

Pilot shortage pulls down Akasa Air's market share to 4.2% in August

IndiGo maintained its lead as the country's largest airline with its market share pegged at 63.3 per cent in August

SpiceJet clears $1.5 million payment due to Credit Suisse after SC warning

On September 12, the apex court asked Singh to pay $500,000 towards an instalment to the Swiss firm along with a $1 million defaulted amount

SpiceJet completes payment of Rs 100 crore to KAL Airways Private Limited

The Delhi High Court on August 24 told CMD Singh to pay Rs 100 crore dues to Maran by September 10

SpiceJet pays Rs 100 crore to Kal Airways and Maran towards arbitral award

Last month, the court had asked the airline to pay Rs 100 crore to Maran by September 10

Credit Suisse case: Pay up or face jail, SC warns SpiceJet boss Ajay Singh

The court on July 25 had given additional time to the airline to pay its dues to Credit Suisse as part of the court-agreed settlement between both parties

HC tells SpiceJet's Ajay Singh to pay Rs 100 crore to Maran by Tuesday

This is as part of the over Rs 380 crore arbitral award dues he has to pay

Credit Suisse case: SC gives Ajay Singh last chance to pay, else face jail

The Supreme Court asked SpiceJet chairman Ajay Singh to make a payment of $500,000 towards an installment to Credit Suisse by September 22, along with $1 million towards defaulted amount

SpiceJet zooms 19% after nearly 3% equity change hands on the BSE

The stock has rallied 27% in two days after the board allotted equity shares and warrants to the promoter group company, and allotted equity shares to aircraft lessors on preferential basis.

Settle issues with creditor Celestial Aviation Services: NCLT asks SpiceJet

The National Company Law Tribunal (NCLT) on Tuesday suggested that SpiceJet settle the issues with lessors that have sought initiation of insolvency proceedings against it. The tribunal's suggestion came against the backdrop of the crisis-hit carrier issuing shares in lieu of dues to nine aircraft lessors. On Tuesday, the NCLT was hearing a plea filed by Celestial Aviation Services Ltd, an operational creditor that had filed a plea to initiate insolvency proceedings against the airline. A two-member NCLT bench observed that the airline is settling with some of aeroplane lessors by converting debt into equity. "SpiceJet seems to be settling with other lessors by giving shares, Why don't you settle with these lessors as well?," the bench, comprising M M Khandelwal and Rahul Prasad Bhatnagar, said. This was in reference to Celestial Aviation Services and four other lessors who have filed pleas against the airline. Further, the bench said that in its opinion, it is in its best intere

SpiceJet gives lessors shares to clear $28 million outstanding dues

The carrier's shareholders had on Thursday passed a number of resolutions, including a 25 billion rupees fundraise and a preferential issue of shares to lessors to clear outstanding dues

SpiceJet up 20% in 3 months despite analysts' skepticism; should you buy?

SpiceJet news: So far this calendar year, shares of SpiceJet have fallen 20 per cent, while they have tumbled 33.16 per cent over the last one year

Struggling to stay afloat: SpiceJet to HC as it was ordered to pay ex-owner

In a Delhi High Court hearing on Thursday on Maran's case demanding the dues, SpiceJet said it was struggling financially