Page 18 - Spicejet

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

Passengers create ruckus at Patna airport as SpiceJet flight gets delayed

Agitated passengers created ruckus at the Patna airport after a SpiceJet flight was delayed, said officials here on Friday

Spicejet insolvency: NCLT defers hearing of plea by Aircastle to June 1

Aircastle had filed a plea over unpaid dues for an order amounting to Rs 49 crore

SpiceJet to get partial relief from Sebi after debt recast deal with lessor

Airline won't have to appoint independent valuer but Carlyle will need to follow six-month lock-in

SpiceJet hikes salaries for captain pilots to Rs 7.5 lakh per month

Budget carrier SpiceJet on Tuesday announced hiking the salary for its captains to Rs 7.5 lakh per month for 75 hours of flying as well as introduced a tenure-linked loyalty reward for them. Salaries of trainers and first officers have also been increased commensurately, according to a release. "Salary of captains has been increased to Rs 7.5 lakh-a-month for 75 hours of flying. The hike will be applicable from May 16, 2023," the airline, which completed 18 years of operations on Tuesday, said. The airline had revised salaries for its pilots in November 2022 wherein the salary of captains was raised to Rs 7 lakh-a-month for 80 hours of flying. A tenure-linked monthly loyalty reward for its captains of up to Rs 1,00,000 per month has also been announced. This amount will be over and above their monthly remuneration, the release said. Details about the number of pilots at the airline could not be immediately ascertained. In recent times, there have been delay in payment of salaries

Spicejet shares tumble nearly 14%; hit 52-week low during intra-day trade

Shares of SpiceJet tumbled nearly 14 per cent on Tuesday, falling to its 52-week low level in intra-day trade, as investors continued to desert the counter. The stock tanked 13.93 per cent to close at Rs 24.16 apiece on the BSE. During the day, it plummeted 19.30 per cent to its 52-week low of Rs 22.65. In volume terms, 159.09 lakh shares of the company were traded at the BSE. The stock has been falling since May 16 (Tuesday), declining nearly 20 per cent. The airline, which completed 18 years of operations on Tuesday, is facing financial headwinds and has undertaken a "restructuring exercise" to further reduce the liabilities. In the equity market, the BSE benchmark ended with a gain of 18.11 points or 0.03 per cent at 61,981.79. On May 11, SpiceJet said it has no plans to file for insolvency proceedings and has also started the process of reviving its grounded fleet with USD 50 million. The statement had come in the backdrop of a lessor filing an insolvency resolution plea aga

SpiceJet plans new flights; pilot pay up at Rs 7.5 lakh per month

SpiceJet was impacted by the grounding of the entire Boeing 737 Max aircraft fleet by the Directorate General of Civil Aviation (DGCA) for over two years

SpiceJet tanks 19%, crashes to near 8-year low on heavy volumes

Average trading volumes on the counter jumped over eight-fold with around 11.47 million equity shares, representing 1.9 per cen of total equity of SpiceJet changing hands on the BSE till 01:50 pm

Jet Airways, SpiceJet hit 52-week lows, slip up to 10% in firm market

Shares of Jet Airways declined 5 per cent as uncertainty continued over the revival of the grounded air line company

SpiceJet insolvency row: DGCA's early warnings reveal brewing trouble

As the insolvency issue of SpiceJet heats up, prior red-flagging to the company by the Directorate General of Civil Aviation (DGCA) had pointed out long awaited trouble for the aviation giant

Stocks to Watch today, May 18: HDFC Bk, Vedant Fashions, MM Forgings, NDTV

Stocks to Watch on Thursday: JK Tyre's net profit surged to Rs 111.56 crore in Q4FY23 from Rs 38.22 crore reported last year

NCLT to hear Spicejet insolvency plea on May 25 as talks with lessor fail

Tribunal gives SpiceJet a week to respond to Dublin-based Aircastle, which sought initiation of insolvency proceedings against the airline under IBC over unpaid dues of Rs 49 crore

SpiceJet subsidiary SpiceXpress to get $100 mn investment from UK group

Budget carrier SpiceJet on Monday said its subsidiary SpiceXpress and Logistics will receive USD 100 million investment from a UK-based group. SpiceJet, which is facing financial headwinds and an insolvency plea by an aircraft lessor, had recently hived off SpiceXpress. Also, last week, the airline said it has no plans to file for insolvency and would invest USD 50 million to revive 25 grounded planes. The United Kingdom-based SRAM & MRAM Group will invest USD 100 million in SpiceXpress. Both sides have signed a Memorandum of Understanding (MoU) as part of the investment deal, the airline said in a release on Monday. The MoU also comes after a debt restructuring agreement between the carrier and aircraft lessor Carlyle Aviation Partner wherein the latter bought a stake in SpiceXpress at an anticipated future valuation of USD 1.5 billion (Rs 12,422 crore). SpiceJet Chairman and Managing Director Ajay Singh said the USD 100 million investment should help SpiceXpress to grow further

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Stocks to Watch today: Adani Enterprises and Adani Transmission will together raise Rs 21,000 crore

SpiceJet suspends flight operations from Ahmedabad-Goa for a month

The bench led by NCLT President Ramalingam Sudhakar directed SpiceJet to attend the hearing on the given date