SpiceJet Ltd Share Price (500285)

SpiceJet Receives Notice from NCLT Over Insolvency Petitions - 19 Apr, 2024

The National Company Law Tribunal (NCLT) has issued a notice to SpiceJet Ltd in response to three insolvency petitions filed against the airline by aircraft lessors over ₹77 crore of arrears. The airline has been successful in getting three petitions quashed on grounds of maintainability.

SpiceJet Faces Insolvency Pleas From Aircraft Lessors - 18 Apr, 2024

Three aircraft lessors have moved the National Company Law Tribunal (NCLT) against SpiceJet for allegedly defaulting on rental dues worth Rs 77 crore. The NCLT has issued notices to the airline, which is already facing multiple insolvency pleas from various parties.

SpiceJet Flight Delayed for Over 8 Hours - 13 Apr, 2024

Passengers aboard SpiceJet's Pune-Dubai flight SG 51 faced an eight-hour delay due to a technical glitch, causing frustration and disruption of travel plans. Some passengers opted to reroute their journey via Mumbai or cancel altogether.

SpiceJet's Pune-Dubai Flight Faces 9-Hour Delay - 12 Apr, 2024

SpiceJet's critical route from Pune to Dubai is serviced by just one flight, which faced a 9-hour delay. Sudhir Mehta criticized the repeated complaints of delays and poor service.

SpiceJet Expected to Post Adjusted Profit in Q4FY24 - 10 Apr, 2024

As per an Elara Capital report, SpiceJet is expected to post an adjusted PAT of ₹2.8 billion in Q4FY24 compared to a loss of ₹477 million in Q4FY23. However, passenger volume may dip 18% YoY and 4% QoQ due to a decrease in fleet size.

SpiceJet Faces Grounding Risk as New Competitor Emerges - 09 Apr, 2024

Sirius India Airlines, a new private charter carrier launched by former SpiceJet COO Arun Kashyap, poses competition for the struggling airline. Additionally, a CAPA Indias report predicts that SpiceJet may face grounding risk with around 200 grounded aircrafts by the end of FY2024.

SpiceJet Resumes Flights to Sikkim, Introduces New Routes - 05 Apr, 2024

SpiceJet has resumed flight operations to Pakyong airport in Sikkim from both Kolkata and Delhi. The low-cost carrier also introduced non-stop flights between Hyderabad and Ayodhya to expand its network.

SpiceJet Resumes Flight Operations to Two Destinations - 04 Apr, 2024

SpiceJet has resumed flight operations to Pakyong airport in Sikkim from Kolkata and Delhi, and launched non-stop flights from Hyderabad to Ayodhya. The move is expected to cater to a large number of tourists visiting these destinations during peak travel periods.

SpiceJet Acquires Q400 Aircraft, Settles Liabilities with Key Lessors - 02 Apr, 2024

SpiceJet has acquired full ownership of six Q400 aircraft from Nordic Aviation Capital (NAC) as part of a settlement agreement, leading to long-term savings. The airline also settled major liabilities with Export Development Canada (EDC), Cross Ocean Partners, AerCap, and Echelon Ireland Madison One Ltd, resulting in substantial savings of Rs 1,252 crore. Additionally, SpiceJet launched a new direct air route from Hyderabad to Ayodhya.

SpiceJet Faces Contempt Proceedings Over Arbitration Award Non-Compliance - 28 Mar, 2024

Former promoter Kalanithi Maran and KAL Airways have sought fresh contempt proceedings against SpiceJet and its chairman Ajay Singh for failing to comply with previous court rulings related to an arbitral award. The case pertains to the execution of an arbitral award of ₹579 crore, plus interest, that Maran won in 2018. Senior advocate Maninder Singh representing Maran told the court that SpiceJet still owes ₹347 crore.

SpiceJet Signs Agreement to Settle Liabilities Worth Rs 755 Crore - 27 Mar, 2024

SpiceJet has signed an agreement with aircraft lessor Export Development Canada to settle liabilities worth Rs 755 crore, allowing the airline to take ownership of 13 of the 15 Bombardier Q400 aircraft financed by EDC. The stock jumped 4% on the news.

SpiceJet Settles Liabilities Worth Rs 755 Crore - 26 Mar, 2024

SpiceJet has settled its liabilities worth Rs 755 crore with Export Development Canada, generating a saving of Rs 567 crore. The airline will acquire full ownership of 13 EDC-financed Q400 aircraft, which will assist SpiceJet in launching flights on numerous regional and UDAN routes.

SpiceJet Faces Legal Battles Over Debt Repayment - 22 Mar, 2024

SpiceJet continues to face legal battles over debt repayment, including a $24 million payment dispute with Credit Suisse. The airline is also struggling to add aircraft to its fleet following the collapse of Go First Airlines, while increasing competition for pilots and rising aircraft lease fares are major roadblocks. Wilmington Trust SP Services has appealed to overturn NCLT's order dismissing its insolvency petition filed against SpiceJet.

SpiceJet's Weekly Flight Operations Decline by 26% - 21 Mar, 2024

SpiceJet has seen a decline of 26.03% in weekly flight operations YoY, operating 1,657 flights every week as opposed to 2,240 flights last year.

SpiceJet Faces Insolvency Appeal as Go First Bidder Raises Offer - 20 Mar, 2024

SpiceJet faces an insolvency appeal filed by Wilmington Trust over unpaid dues while a bidding consortium for Go First has raised its offer by ₹1-1.5 billion following lender prompts. Meanwhile, SpiceJet will resume direct flights from Sikkim's Pakyong Airport to Delhi and Kolkata.