Page 17 - Spicejet

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

SpiceJet to add 10 narrow-body Boeing aircraft, including five B737 Max

No-frills airline SpiceJet, which is trying to keep afloat amid several aircraft of its fleet being grounded over payment issues with lessors, on Friday said it plans to add 10 narrow-body Boeing aircraft, including five B737 Max, on lease by October. In the intervening period, the airline is working on restoring and reviving its grounded aircraft which will start returning back to service soon, SpiceJet said in a statement. "We will be inducting 10 B737 aircraft between September-October. The induction of these planes, which coincides with the peak travel season in India, will help us launch new routes and strengthen our presence on existing ones," said Ajay Singh, Chairman and Managing Director of SpiceJet. The airline said it has already signed a lease agreement for these 10 planes which will start joining the fleet from September to cater to the rising demand. "There has been a significant surge in passenger demand and we are hopeful that this trend will continue in the latter

SpiceJet partners with FTAI to restore fleet, to lease up to 20 engines

SpiceJet had also said there were no plans to file for insolvency, quelling fears of a spillover after rival Go Airlines (India) filed for voluntary bankruptcy

Stocks to Watch today, June 6: Adani Group, SBI, Maruti, HUL, Sejal Glass

Top Stocks to Watch on June 6, 2023: Adani Group said it has made a full prepayment of $2.15 billion of loans that were taken by pledging shares in the conglomerate's listed firms

EWS, DG seats in school to go waste on neighbourhood criteria: Delhi HC

From hearing a plea for EWS and DG seats in schools to refusing to grant a stay on the investigation in Ashneer Grover case, here are important cases of the day

Pay Rs 380 crore to Kalanithi Maran: Delhi High Court directs SpiceJet

Maninder Singh, a senior advocate from Karanjawala & Co, further argued that the amount of Rs. 75 crore had not been deposited yet, resulting in an increased interest liability of Rs 380 crore

Delhi HC orders SpiceJet to pay Rs 380 crore to Sun Group's Kalanithi Maran

The court's ruling which came out on Monday stemmed from a long-running battle between the Maran family and the current promoter, Ajay Singh, and SpiceJet, over contractual obligations