The Supreme Court stayed for three weeks the order of winding up SpiceJet after the airline claimed that it is looking to settle dispute over its outstanding dues with Swiss company 'Credit Suisse'
These companies have significant exposure to price movement of Aviation Turbine Fuel (ATF) which is a derivative of crude oil.
Credit Suisse moved a winding up petition before the company court claiming that SpiceJet was indebted to it for more than $24 mn
The airline has time till January 28 to move the Supreme Court.
Justices Paresh Upadhyay and Sathi Kumar Sukumara Kurup dismissed the appeal preferred by the private carrier
The Madras High Court extended till Jan 11, the operation of an interim stay on the verdict of a single judge, which ordered the winding up of Spicejet
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After a year of disruptions, businesses were better prepared in 2021, not only adjusting to the new normal but also making the most of it
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In 2017, SpiceJet had signed an agreement with De Havilland for the purchase of 25 Q400 aircraft
The broader markets outperformed, the BSE Midcap and Smallcap indices were up 0.3 per cent and 0.8 per cent, respectively
SpiceJet on Thursday said its 737 Max plane, which was heading from Mumbai to Kolkata, returned to Maharashtra's capital city due to a technical issue.
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Spice Jet has announced that it would file an appeal in the Madras High Court against an order of the single bench of the high court directing the airline to wind up its operation
The Court on Monday ordered winding up of the airline on a petition filed by Credit Suisse over unpaid dues of $24 million
The carrier said it has a good case on merits and was hopeful of having favourable outcome in the appeal