Page 8 - Spicejet

SpiceJet plans to raise over Rs 3,200 cr through debt, equity instruments

Cash-strapped domestic carrier Spicejet plans to raise over Rs 3,200 crore through various debt and equity instruments and capital infusion by the promoter, the airline said in a corporate presentation. The funds will be utilised in fleet ungrounding, liability settlement, new fleet induction and other general purposes, SpiceJet said in the presentation. "Spicejet plans to raise Rs 2,500 crore through QIP and Rs 736 crore through Previous Warrants and promoter infusion," it said. The proposed fundraising is subject to shareholders' approval, it added.

'No immediate concerns': SpiceJet after DIAL asks to clear dues at earliest

Delhi airport operator DIAL has asked SpiceJet to clear its dues at the earliest, sources said on Tuesday even as the airline asserted that there are no immediate concerns regarding payments. There was no official comment from DIAL (Delhi International Airport Ltd), which operates the Indira Gandhi International Airport in the national capital. SpiceJet has been facing financial and legal woes, and aviation watchdog DGCA placed the budget carrier under enhanced surveillance last week. The sources in the know on Tuesday said DIAL has asked the carrier to clear the dues at the earliest. Details about pending dues could not be immediately ascertained. When contacted, a SpiceJet spokesperson said it continues to operate flights normally and that its "payment obligations to DIAL are being fulfilled as per our regular schedule". The spokesperson also said that information suggesting that DIAL has issued a two-day deadline for payment is incorrect. "Our communications with DIAL are ong

DGCA places Spicejet under surveillance after audit reveals deficiencies

A senior DGCA official said that based on reports of cancellation of flights and financial stress being experienced by Spicejet Airlines, a special audit was conducted

Cash crisis: SpiceJet puts 150 cabin crew on furlough for 3 months

The airline, which has been making losses for the last six years, has been finding it difficult to pay employee salaries, sources mentioned

DGCA puts SpiceJet under enhanced surveillance, to increase spot checks

Aviation watchdog DGCA on Thursday decided to place crisis-hit SpiceJet under enhanced surveillance that will entail increased spot checks and night surveillance to ensure the safety of the airline's operations. Based on reports of cancellation of flights and financial stress being experienced by SpiceJet, DGCA said it conducted a special audit of the airline's engineering facilities on August 7 and 8 and certain deficiencies were found during the audit. "In light of the past record and the special audit carried out in August 2024, SpiceJet has once again been placed under enhanced surveillance with immediate effect. "This would entail an increase in the number of spot checks/ night surveillance with a view to ensure the safety of operations," the Directorate General of Civil Aviation (DGCA) said in a release.

SpiceJet fliers barred from checking-in at Dubai airport over airline dues

Many SpiceJet flights from Dubai have been operating empty and passengers flying from Dubai with SpiceJet have been experiencing similar problems throughout the past week, according to a report

Will settle all dues by September 30: SpiceJet to Delhi High Court

The lessors had filed a case against SpiceJet in December, claiming dues of more than $20 million for the engines

SpiceJet's domestic market share falls to 3.1% in July, shows DGCA data

SpiceJet had recorded a market share of 16 per cent in March 2020, just before COVID-19 spread across India. The airline has been recording losses for the last six years

Delhi HC refuses listing of Spicejet's plea against grounding of 3 engines

The Delhi High Court on Friday refused to grant an urgent listing of low-cost airline Spicejet's plea challenging an order to ground three aircraft engines by today and hand those over to the lessors within 15 days. The plea was mentioned for urgent hearing before a bench of Acting Chief Justice Manmohan and Justice Manmeet P S Arora. The bench said listing the plea during the day was not possible and it will be heard on August 20. "It is very difficult to list it today. Several judges are on leave today. Let the learned judges read the papers (case documents). We will have it on Tuesday," the bench said. Spicejet has challenged a single judge's August 14 order directing it to ground three engines by Friday and hand them over to their lessors within 15 days. The judge had directed the airline to offer prior inspection of the engines to the lessors -- Team France 01 SAS and Sunbird France 02 SAS -- through their authorised representative at the Delhi airport within seven days. Seni

SpiceJet Q1 results: Net profit drops 20% to Rs 158 cr due to fewer flights

Airline said it has initiated process of raising Rs 3,000 crore through QIP

SpiceJet Q1 results: Net profit drops 26.7% to Rs 150 cr on fewer flights

The company reported a profit of Rs 150 crore ($17.9 million) for the quarter ended June 30, down 26.7% from last year

SpiceJet Promoter Ajay Singh to dilute over 10% stake to raise Rs 3,000 cr

After the fundraising, Ajay Singh's shareholding in SpiceJet may drop to 30-35% from 47.8%

Lessors reject SpiceJet CMD Ajay Singh's pledge of shares to pay dues

Citing the depreciation of their assets, the lessors sought the grounding of the airline and the return of the engines

Mumbai airport announces 'disruptions' in SpiceJet ops, soon deletes X post

Non-payment of dues forced airport operator to take this step, sources said

Delhi HC tells SpiceJet to personally guarantee payment to lessors

The court had earlier given SpiceJet a final chance to settle a payment of Rs 50 crore to its engine lessors, Team France and Sunbird France

SpiceJet passengers stranded at Dubai airport due to flight cancellations

Hundreds of SpiceJet passengers were stranded at the Dubai airport on Wednesday after some flights were cancelled due to to non-payment of dues by the airline to the Dubai airport authorities, according to a source. A SpiceJet spokesperson on Thursday said few flights from Dubai to India were cancelled due to operational reasons on Wednesday but did not elaborate. The source in the know said around 10 SpiceJet flights, which were to be operated to various Indian cities from Dubai, were cancelled due to non-payment of dues. Hundreds of passengers were stranded at Dubai airport as a result of this, the source said. "On July 31, 2024, a few flights from Dubai to India were cancelled due to operational reasons. "The airline took immediate steps to mitigate the impact by rebooking affected passengers on subsequent flights and providing hotel accommodations," the airline spokesperson said. The spokesperson added that all its scheduled flights from Dubai are now operating as planned. A

Relief to SpiceJet, SC sends back its dispute with Kalanithi Maran to HC

SpiceJet and Singh had specifically sought to annul the portion of the arbitral award which instructed them to refund Rs 270 crore to Kal Airways and Maran

SpiceJet share price up 4.5% after SC upholds Delhi HC order favouring co

SpiceJet Supreme Court order: The Supreme Court, today, likely dismissed a petition filed by Kalanidhi Maran against the Delhi High Court's order which quashed the arbitral award in favour of Maran

SpiceJet to raise $360 mn by selling securities to restore normalcy

The company will issue shares to institutional investors, it said in an exchange filing, without disclosing the price at which they would be sold

All ops running after successful resolution of Microsoft outage: SpiceJet

SpiceJet said late on Friday that all its systems at airports, ticket bookings and call centres are up and running smoothly after a "successful resolution" of a Microsoft outage that impacted the aviation industry all through the day. "The technical outage has been fully resolved, and all our systems are back to normal operations," SpiceJet Chairman and Managing Director Ajay Singh said in a statement. The outage, which began Friday morning, affected airlines globally, causing temporary disruptions to online services and airport check-in processes. The airline said that despite the challenges posed by the global technical outage, it is operating all scheduled flights as planned on Friday and claimed there was not even a single cancellation due to the technical outage. "Our team worked to ensure minimal disruption to our passengers' travel plans. We appreciate the understanding and cooperation of our passengers and stakeholders during this time," the airline said.