Page 17 - Spicejet

Placed under enhanced surveillance, SpiceJet to get Rs 500 cr from promoter

Singh and his family own 46.95 per cent stake in the airline as on March 31, 2023

SpiceJet promoter Ajay Singh to inject Rs 500 crore in struggling airline

The infusion of fresh capital will substantially strengthen the SpiceJet's financial position

DGCA puts SpiceJet under 'enhanced surveillance' starting June 22

Enhanced surveillance generally includes an increased number of spot checks, especially during the night, the officials mentioned

DGCA puts SpiceJet under 'enhanced surveillance'; airline refutes reports

Aviation watchdog DGCA has put SpiceJet under "enhanced surveillance" amid the budget airline facing multiple financial headwinds in recent months, a senior official said on Tuesday, but the carrier refuted any such development. It also comes against the backdrop of various lessors seeking repossession of aircraft leased to SpiceJet and some of the cases have been settled by the airline. The Directorate General of Civil Aviation (DGCA) has put SpiceJet under enhanced surveillance for more than three weeks now and it is an ongoing process, the official told PTI. According to the regulatory official, the enhanced surveillance includes increased night surveillance and spot checks. The focus is to ensure that due to financial issues, there are no potential adverse impact on the flight operations and that there is no "cutting corners" on safety, the official said on the condition of anonymity. The enhanced surveillance is also to check whether safety obligations are being met or not, t

EaseMyTrip's general sales agreement with SpiceJet to start from Aug 1

Online travel service provider Easy Trip Planners Ltd on Monday said it has signed a general sales agreement with SpiceJet for selling and promoting the carrier's passenger tickets and other services to passengers in India. The agreement will commence from August 1, 2023, under which the company will be responsible for selling and promoting the products and services offered by SpiceJet in India, Easy Trip Planners, which operates under brand EaseMyTrip, said in a statement. "With this collaboration and the potential for future acquisitions, we are presented with a fantastic opportunity for growth," EaseMyTrip CEO and Co-Founder Nishant Pitti said. The company anticipates gaining additional momentum and propel towards becoming a leader in the air ticketing industry within the next 18 to 24 months, he added. "With their extensive experience, strong industry connections, and deep understanding of the Indian market, we are confident that they (EaseMyTrip) will drive our sales efforts

No amicable settlement between SpiceJet and Kalanithi Maran: Sun Group

Sun Group says 'no question' of that, asks airline to make full payment to in arbitral award

Confident of resolving issues through talks with Maran: SpiceJet official

A day after the Supreme Court refused to give more time to SpiceJet in connection with interest payment related to an arbitral award, an airline official on Saturday said it is confident of resolving through talks the issues with Kalanidhi Maran and his Kal Airways. On Friday, the Supreme Court declined to extend the time for making payment to media baron Kalanithi Maran and his Kal Airways in pursuance of an arbitral award of Rs 578 crore related to a share-transfer dispute. The case and the final order are still pending before the Delhi High Court, the official said, adding that Rs 380 crore is only the deposit amount. The official also claimed that the airline is engaged in talks with Kalanithi Maran and KAL Airways for a full and final settlement of the interest amount. The airline is confident of resolving this to the satisfaction of both sides, as done successfully with many of its partners, through talks, the official said. Earlier in the case, the Delhi High Court, on June

SC directs SpiceJet to pay entire arbitration award of Rs 380 cr to Maran

The court had made it clear in its order that if SpiceJet failed to pay, the entire award would become payable to Kal Airways and Maran

SC dismisses Spicejet's plea seeking extension to pay dues to Maran

While dismissing the plea, the bench said that the present application is 'nothing but a delay tactic of Spicejet Ltd. to not pay money even when there are court orders directing the same'

SpiceJet Dubai-Kochi plane suffers tyre burst, makes smooth landing

A SpiceJet aircraft coming from Dubai to Kochi on Tuesday morning suffered a tyre burst but the plane made a smooth landing, according to the airline. The airline said the tyre burst was noticed post landing of the aircraft. Details about the number of passengers onboard the plane could not be immediately ascertained. "On July 4, SpiceJet Boeing 737 operated flight SG-17, Dubai (DXB) - Cochin (COK). During post flight walk around, NO 2 tyre was found burst," the airline said in a statement. All system parameters were normal during and post flight and landing was smooth, it added.

NCLT questions maintainability of insolvency plea filed against SpiceJet

The National Company Law Tribunal (NCLT) on Tuesday questioned the maintainability of the insolvency plea filed against air carrier SpiceJet by one of its operational creditors Willis Lease Finance Corporation. A two-member NCLT bench comprising Members Mahendra Khandelwal and Rahul Prasad Bhatnagar observed that Willis Lease Finance Corporation has withdrawn its insolvency plea for the same dispute in March 2023 and has approached again with a new plea. The bench wanted to know as Willis Lease Finance Corporation, an aircraft lessor, had filed again for a similar cause of action within a few months. The NCLT posted the matter on July 21 for the next hearing over the plea moved by Willis Lease Finance Corporation, the US-based firm whose core business is leasing commercial aircraft engines to airlines. During the proceedings of the insolvency tribunal, Willis' counsel submitted that they had withdrawn after the court's permission and refiled it, and hence, it is maintainable. Will

NCLT to hear on July 21 maintainability of lessor's plea against Spicejet

Willis Lease says the low-cost carrier has defaulted on $6.87-mn payment

Top headlines: Spicejet most delayed airline, Twitter rival to launch Thurs

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SpiceJet most delayed Indian airline as travel season takes a toll

With the busy summer travel season arriving, only 61% of SpiceJet's flights departed on time from the country's four biggest airports - Mumbai, Delhi, Bengaluru and Hyderabad - in May

Spicejet repays last Rs 25 cr to settle City Union Bank's Rs 100 cr loan

Last year, the airline had agreed to repay all its due by June 2023

Top headlines: TCS takes serious view of ethics breach, BRICS expansion

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SpiceJet settles liabilities dispute on unpaid dues with lessor NAC

The airline, which currently operates five Bombardier Q400 aircraft from NAC in its fleet, said the agreement settles all past liabilities for the Q400s

SpiceXpress partners Ekart to provide first and last-mile delivery space

SpiceJet Ltd's cargo arm SpiceXpress and Logistics has partnered with supply chain services providers Ekart in the first and last-mile delivery space, the company said on Monday. As part of this partnership, Ekart will provide first-mile pickup of cargo shipments and will also help deliver them through last-mile connectivity across all serviceable pin codes in the country, SpiceXpress said in a statement. Ekart offers brands, platforms, and businesses end-to-end supply chain management, including dropship, inventory management, distribution, aggregation, and more, built on years of extensive experience along with a large footprint of infrastructure. It said that this partnership will enable the company to significantly expand its reach and added that with Ekart's extensive network, SpiceXpress will offer an end-to-end service to its customers across all major industries. SpiceXpress has entered into a partnership with Ekart that will further strengthen our delivery service and ...

Stocks to Watch today, June 12: SpiceJet, IOC, Go Fashion, BoI, Concor

Stocks to watch on June 12, 2023: Indiabulls Housing Finance, Indian Energy Exchange (IEX) and India Cements are the three stocks in F&O ban period on Monday.

Wilmington Trust moves insolvency plea against SpiceJet; hearing on Monday

Wilmington Trust is an affiliate of Aircastle, which had last month filed a similar case at the NCLT