SpiceJet Ltd

Ruling a setback to the airline, which is also facing a battle with aircraft lessors over payments

Airline owes ₹50 crore to the lessor; granted time till May 25 to reply to plea

Earlier this month, Aircastle sought to initiate bankruptcy proceedings against SpiceJet over non-payment of lease rentals and other dues

SpiceJet, which is facing financial headwinds, had recently hived off SpiceXpress.

Aircastle says SpiceJet owes ₹40-crore dues for four B737-800 aircraft

InterGlobe Aviation stock rallied 7.99 per cent to ₹2,235.95—its 52-week high—on the BSE

Carlyle Aviation, the largest lessor to the low-cost carrier, will probably convert its dues into compulsory convertible debentures in SpiceXpress

What to expect? Aircraft deregistration, possible mayhem at airports and action from lenders

Arun will report to Ajay Singh, Chairman and Managing Director, SpiceJet in his new role. His appointment is effective June 12, 2023

 UDAN’s new version will recalibrate old, inoperative routes and also introduce new routes

‘The hived-off cargo business will generate its funds for its own growth’

SpiceJet has sold the cargo business for Rs 2,555.77 crore