Page 17 - Spicejet

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

SpiceJet: Division bench orders Ajay Singh to pay Rs 100 cr to Maran

Kalanithi Maran claims that SpiceJet owes him Rs 393 crore as of August 3

Stocks to Watch today, Aug 16: IndiGo, ITC, SBFC, Infy, Voda Idea, M&M, Zee

Stocks to watch on August 16, 2023: Shares of IndiGo are likely to be in focus amid reports of a likely stake sale by the co-founders Gangwal family on Wednesday.

Akasa Air widens gap with SpiceJet in domestic passenger market share

Overall, the carriers transported a total of 12.1 million domestic air passengers in July, an increase of 31.72 per cent compared to the same month last year

Flying back into black, SpiceJet reports highest profit in 4 years

The jump in net profit can be attributed to a 17 per cent decline in the company's total expenses from Rs 2,504.7 crore in Q4FY23 to Rs 2,069 crore in the first quarter of the current financial year

SC's contempt notice to SpiceJet's Ajay Singh in Credit Suisse case

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

SpiceJet flies 13% as it clocks net profit of Rs 205 crore in Q1FY24

The company registered net profit at Rs 205 crore in the June ended quarter (Q1FY24), as against net loss of Rs 789 crore, in the year-ago period.

SpiceJet back in black; posts Rs 205 crore profit in June quarter

No-frills carrier SpiceJet on Monday reported a net profit of Rs 205 crore in the three months ended June, helped by strong air travel demand. The airline, which is facing multiple headwinds, had recorded a net loss of Rs 789 crore in the year-ago period. In a release, SpiceJet said the profit of Rs 205 crore was on account of "strong demand for air travel in India". "Total operating revenue for the reported quarter was Rs 2,002 crore as against Rs 2,457 crore in the same quarter of the previous year," it said. In the first quarter of this fiscal, operating expenses declined to Rs 1,291 crore as against Rs 2,072 crore in the same period a year ago. SpiceJet Chairman and Managing Director Ajay Singh said that despite facing multiple challenges, the airline posted a profit in the first quarter of the current financial year. "I am pleased to have contributed to its growth by infusing Rs 500 crore into the company. This infusion will help bolster our efforts in reviving our grounded

SpiceJet insolvency plea maintainable, engine lessor WLFC tells NCLT

WLFC's submission came in response to Spicejet's challenge to the maintainability of WLFC's petition to initiate insolvency proceedings against the airline

SpiceJet seeks shareholder approval for 5.91% stake transfer to Carlyle

Airline seeks shareholder approval for change in shareholding structure

Delhi HC rejects SpiceJet's plea for relief in dispute with Maran

Dispute dates back to 2015 when Kalanithi Maran sold his stake in airline for a nominal price

Aviation regulator removes SpiceJet from enhanced surveillance regime

Airline has taken 'suitable maintenance action', says DGCA after checking its fleet

Grounded SpiceJet aircraft's engine catches fire at Delhi airport

Airline has taken 'suitable maintenance action', says DGCA after checking its fleet

Supreme Court gives SpiceJet more time to pay dues to Credit Suisse

In 2011, the airline company had entered into a 10-year contract with a Swiss maintenance firm SRT Technics for the servicing of its aircraft

SpiceJet aircraft's engine catches fire during maintenance at Delhi airport

An engine of a grounded SpiceJet Q400 plane caught fire at the Delhi airport on Tuesday evening, and the aircraft and maintenance personnel are safe, according to officials. A SpiceJet spokesperson said a fire warning was observed in an engine of the Q400 aircraft that was under maintenance, and the fire extinguisher was discharged. The spokesperson also added that as a precaution, the fire brigade was called and that the aircraft and maintenance personnel are safe. An official at the airport said that around 8 pm, the fire was reported in one of the engines of the grounded aircraft, and later the fire was extinguished. "On July 25, SpiceJet Q400 aircraft under maintenance, while carrying out engine ground run at idle power at bay, the AME observed fire warning on #1 engine," the airline spokesperson said in a statement. Q400 is a turbo-prop aircraft. As per the airline's website, it has Q400s that can accommodate 78 passengers and 90 passengers. Earlier in the day, aviation reg

Low-cost carrier Spicejet taken off DGCA's enhanced surveillance regime

The airline was put on surveillance starting June 22 as a precautionary measure