Page 6 - Spicejet

SpiceJet's domestic passenger market share shrinks to 2%, says DGCA

Overall, the Indian carriers carried a total of 13.027 million domestic passengers, which was 6.38 per cent more year-on-year

DGCA removes 'enhanced surveillance' of SpiceJet after fund infusion

Random spot checks of low-cost carrier's operational aircraft will continue, says regulator

SpiceJet up 3% on settling $23 mn dispute with Aircastle & Wilmington Trust

The spike in SpiceJet share price came after the company announced that it has settled a $23.39 million dispute with Aircastle (Ireland) & Wilmington Trust SP Services (Dublin) Limited for $5 million

SpiceJet settles $23.39 mn dispute with Aircastle, Wilmington Trust

Budget carrier SpiceJet on Tuesday said it has successfully settled a USD 23.39 million dispute with two aircraft lessors -- Aircastle and Wilmington Trust, days after amicably resolving a similar dispute with a US-based aircraft leasing firm, BBAM. As part of the settlement, all ongoing litigation and disputes between the parties will be withdrawn at appropriate forums, the airline said in a statement. SpiceJet has "successfully settled" a USD 23.39-million dispute with Aircastle (Ireland) Designated Activity Company and Wilmington Trust SP Services (Dublin) Ltd for an aggregate sum of USD 5-million, together with agreement in relation to the treatment of certain aircraft engines, the statement added. Both parties have reached this agreement through amicable negotiations, choosing to resolve the matter outside the courtroom, it said. "We have successfully resolved this long-standing dispute with Aircastle and Wilmington Trust. With this and other significant settlements, SpiceJet

SpiceJet faces new insolvency case over Rs 58 crore unpaid dues to lessor

SpiceJet faces new insolvency plea in NCLT over Rs 58 crore unpaid dues to lessor Aviator ML 29641 Ltd, the tribunal has given the airline time to respond, the next hearing is on Nov 11

SpiceJet takes off 8% on resolving dispute with lessors for $22.5 mn

SpiceJet share price today: SpiceJet settled dispute with Babcock & Brown Aircraft Management for $22.5 million

Grounded planes will be back in service within 24 months: SpiceJet to DGCA

Company to spend Rs 400 crore on 36 grounded aircraft; says planning to bring 7 of them back in service by Nov 15

SpiceJet to add 10 aircrafts by next month; first plane induction on Oct 10

Domestic carrier SpiceJet on Tuesday said it will enhance its fleet by another 10 aircraft by next month with the first plane set to be inducted on October 10. Seven of these aircraft will be acquired on lease, while three previously grounded ones are being reintroduced, SpiceJet said in a release. The Gurugram-headquartered airline has only 19 aircraft in operations while as many as 36 planes were on grounded as of October 8 according to the live aircraft fleet tracking website, Planespotter.net. The announcement comes on the back of SpiceJet securing Rs 3,000 crore fresh capital infusion through QIP late last month. The airline will receive an additional Rs 736 crore from a previous funding round, further bolstering its financial stability and growth trajectory. SpiceJet said it has already signed agreements for the leased aircraft, with the full induction of all seven planes expected by November 15. Two of these leased aircraft have already arrived in India and are scheduled f

SpiceJet stock jumps 9% on plans to induct 10 planes by November-end

The airline has already signed agreements for the leased aircraft, with the full induction of all the seven planes expected by November 15.

FIR against Ajay Singh, SpiceJet board surfaces day after clearing PF dues

The Delhi Police's Economic Offence Wing had filed an FIR against SpiceJet's managing director Ajay Singh and top officials for cheating and criminal conspiracy in September

SpiceJet says cleared salary, GST dues; deposited 10-month PF dues

Crisis-hit SpiceJet, which has recently raised Rs 3,000 crore, on Friday said it has cleared all pending salary and GST dues as well as deposited ten months' dues of provident fund. On September 23, the airline announced raising Rs 3,000 crore through Qualified Institutional Placement (QIP) of shares. An airline spokesperson said that within the first week of raising fresh funds, it has cleared all pending salary and GST dues and has made significant progress by depositing ten months' dues of PF. The process of clearing other outstanding dues is ongoing, he said in a statement. Among other efforts, the airline has reached settlement with various aircraft lessors. SpiceJet has been facing multiple headwinds, including financial problems and legal woes. It is also operating with a reduced fleet. On Friday, shares of SpiceJet fell 4.25 per cent to close at Rs 62.79 apiece on BSE.

Plutus Wealth increases shareholding in SpiceJet, buys Rs 50 cr worth share

Plutus Wealth Management on Tuesday raised its holding in domestic carrier SpiceJet by acquiring additional shares for Rs 50 crore through an open market transaction. According to the bulk deal available with the BSE, Plutus Wealth Management purchased 75 lakh shares or 0.58 per cent stake in Gurugram-headquartered SpiceJet. The shares were bought at an average price of Rs 66.70 apiece, taking the transaction value to Rs 50.02 crore. Details of sellers of SpiceJet's shares could not be identified on the BSE. Shares of SpiceJet jumped 6.95 per cent to close at Rs 68.13 apiece on the BSE. On Monday, Plutus Wealth Management bought 85 lakh shares, amounting to a 0.66 per cent stake in domestic carrier SpiceJet for Rs 51 crore.

Airline stocks IndiGo, SpiceJet gain after govt slashes ATF rates

Shares of listed airlines IndiGo and SpiceJet gained up to 5.4 per cent after the central government cut air turbine fuel (ATF) rates

SpiceJet stock flies 6% after Plutus Wealth Management buys stake

SpiceJet share price jumped 5.80 per cent at Rs 67.40 per share on the BSE in Tuesday's early morning trade

Delhi HC asks SpiceJet to respond to execution petition on engines return

The Delhi High Court on Monday asked low-cost airline SpiceJet to file its reply to a petition seeking execution of an order directing it to ground three aircraft engines and hand those over to their lessors. The court also asked the airline to file an affidavit listing out its assets and posted the execution petition for further hearing on November 13. Justice Manmeet Pritam Singh Arora also issued a court notice to the Directorate General of Civil Aviation (DGCA), with a direction to its competent officer to remain present in the court on November 13, along with a status report confirming due compliance of the court's August 14 order. The court said in its status report, the DGCA will mention the status of the re-delivery of the engines. The high court had, in its August 14 order, directed SpiceJet to ground the three engines by August 16 and hand those over to their lessors within 15 days. The single-judge bench had directed the airline to offer prior inspection of the engines

SpiceJet clears GST dues after raising Rs 3,000 crore through QIP

This comes shortly after Spicjet settled all salary arrears for its employees, marking a series of positive developments for the airline

SpiceJet settles salary dues following successful Rs 3,000 crore QIP

SpiceJet's financial woes have been compounded by its inability to secure additional funding, resulting in defaults on lease payments for its aircraft

SpiceJet clears pending salaries after Rs 3,000 crore capital infusion

Domestic carrier SpiceJet has cleared all pending salary dues of its employees after securing a fresh capital infusion of Rs 3,000 crore, a source has said. The salaries for July and August for all employees, as well as the remaining June salaries for those who were partially paid, were deposited into their accounts on Wednesday evening, according to the source. A SpiceJet spokesperson confirmed the disbursement of employees' pending salaries. "Pending salaries of employees were disbursed on Wednesday evening," the spokesperson said on Thursday without divulging further details. SpiceJet had been delaying salaries to its staff for the last couple of months due to a liquidity crunch. The airline hasn't paid the provident fund for two and a half years while TDS, which is deducted from employees' salaries every month, has also not been deposited with the government. On September 23, the airline announced raising Rs 3,000 crore through QIP and an additional Rs 736 crore from the prev

Fueled by Rs 3,000 crore fundraise, SpiceJet to aim 100 aircrafts by 2026

SpiceJet will aim for 100 aircraft by 2026, announced following a Rs 3,000 crore QIP. The airline is facing financial crisis that arose due to Covid-19 driven operational challenges and other factors

SpiceJet resolves $16.7 mn dispute with Engine Lease Finance Corporation

Representatives from both SpiceJet and ELFC are set to formalise the agreement, effectively ending all legal proceedings between the two