SpiceJet settles suit with aircraft lessor Goshawk
3 years ago

SpiceJet settles suit with aircraft lessor Goshawk

Live Mint  

The Delhi High Court has adjourned the hearing of a lawsuit against no-frill carrier SpiceJet Ltd by aircraft lessor Goshawk and its trustee Wilmington Trust SP Services Dublin Ltd regarding unpaid dues to 14 December after passing an interim order in September preventing the airline from transferring its assets to the tune of decretal amount. Goshawk and its trustee had leased three planes to SpiceJet, including two Boeing 737Max planes and one Boeing 737-800 aircraft. SpiceJet had earlier in September said that it has received shareholders’ approval to transfer its cargo and logistics services business to its subsidiary, SpiceXpress and Logistics Pvt. The move by SpiceJet to segregate its profitable logistics and cargo business will help the airline raise funds at a time the airline’s auditors, Walker Chandiok & Co LLP, have raised doubts about the company’s ability to continue as a going concern.

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History of this topic

SpiceJet share price rises after Aircastle drops insolvency case
3 weeks, 6 days ago

SpiceJet share price rises after Aircastle drops insolvency case

India Today  

Low-cost airline SpiceJet's shares rose in early trade on Thursday after aircraft lessor Aircastle withdrew its insolvency case against the airline. In September, SpiceJet announced the resolution of a $23.39 million dispute with Aircastle Designated Activity Company and Wilmington Trust SP Services Limited. SpiceJet, in an exchange filing, said, "This follows a mutually agreed-upon settlement, marking a positive turn in …

Supreme Court to consider SpiceJet’s plea against Delhi HC order grounding 3 aircraft engines
3 months, 1 week ago

Supreme Court to consider SpiceJet’s plea against Delhi HC order grounding 3 aircraft engines

The Hindu  

The Supreme Court said Thursday it will consider listing low-cost airline SpiceJet’s plea challenging a Delhi High Court verdict grounding three aircraft engines for defaulting on payments to lessors. A division Bench of the Delhi High Court on Wednesday held that the carrier had violated an agreed interim arrangement for payment of dues and upheld an order of a single-judge …

Court upholds SpiceJet engine grounding order
3 months, 1 week ago

Court upholds SpiceJet engine grounding order

Hindustan Times  

New Delhi A division bench of the Delhi high court on Wednesday upheld an order passed last month by a single judge, directing embattled budget airline SpiceJet to ground three engines and returning them to lessors Team France 01 SAS and Sunbird France 02 SAS. In the position in which SpiceJet is at this juncture, Team France and Sunbird France …

Indian carrier SpiceJet restructures dues to Carlyle Aviation
3 months, 2 weeks ago

Indian carrier SpiceJet restructures dues to Carlyle Aviation

Hindustan Times  

India's SpiceJet on Friday said it will convert about $97 million of its dues to the commercial aviation investment and servicing arm of Carlyle Group into equity and debentures. A SpiceJet passenger Boeing 737-800 aircraft The restructuring plan comes as the budget airline has struggled to fully restore operations despite multiple fundraises over the last year. The carrier on Friday …

You can’t use property without paying rent: Delhi HC rebukes SpiceJet, Ajay Singh
4 months ago

You can’t use property without paying rent: Delhi HC rebukes SpiceJet, Ajay Singh

Live Mint  

The Delhi High Court on Friday issued a stern rebuke to SpiceJet, criticizing the cash-strapped airline for continuing to operate leased engines without paying rental dues. The court’s pointed remarks highlighted the airline's precarious financial situation and its inability to honour commitments, casting doubt on the assurances made by SpiceJet's chairman and managing director, Ajay Singh. SpiceJet's legal disputes and …

SpiceJet secures lease agreements for 10 aircraft to bolster summer capacity
9 months, 1 week ago

SpiceJet secures lease agreements for 10 aircraft to bolster summer capacity

Live Mint  

SpiceJet, in preparation for the upcoming summer schedule, has finalised lease agreements for 10 aircraft, to enhance capacity and ensure smooth connectivity for passengers during peak travel seasons, the company said in a release on March 14. Additionally, SpiceJet resolved a ₹93 crore dispute with aircraft leasing firm Cross Ocean Partners, securing the transfer of an airframe and an engine …

SpiceJet says reached settlement on ₹413-crore dispute with Echelon Ireland Madison One
9 months, 2 weeks ago

SpiceJet says reached settlement on ₹413-crore dispute with Echelon Ireland Madison One

The Hindu  

SpiceJet on March 7 said it has settled a dispute involving ₹413 crore with aircraft leasing firm Echelon Ireland Madison One Ltd, making it the third dispute settlement to be announced by the crisis-hit carrier in less than two weeks. As part of the settlement of the ₹413-crore dispute, SpiceJet will acquire two airframes. The airline, which is facing multiple …

SpiceJet share price jumps 4% after this declaration before Delhi High Court
9 months, 2 weeks ago

SpiceJet share price jumps 4% after this declaration before Delhi High Court

Live Mint  

Stock market today: SpiceJet share price today witnessed buying interest as the aviation company has declared to have settled ₹93 crore dispute with the aircraft leasing company Cross Ocean Partners. The joint declaration was made by both parties before the Delhi High Court in the ongoing execution petition being pursued by Cross Ocean Partners. SpiceJet share price today opened upside …

SpiceJet to submit offer to Go First after due diligence to create an ‘airline in collaboration’
1 year ago

SpiceJet to submit offer to Go First after due diligence to create an ‘airline in collaboration’

Firstpost  

The news, which pushed up SpiceJet shares by more than 7%, came after Go First’s lenders began contemplating the airline’s liquidation after they did not get any bids for it within the late November deadline Budget carrier SpiceJet said on Tuesday that it will submit an offer with the resolution professional of Go First after due diligence to “create an …

Indian airline SpiceJet tells court it is 'struggling to stay afloat'
1 year, 4 months ago

Indian airline SpiceJet tells court it is 'struggling to stay afloat'

The Hindu  

Indian budget airline SpiceJet told a court on Thursday it was "struggling to stay afloat", as it was ordered to make a payment to its former owner over money owed. In 2018 SpiceJet lost an arbitration case arising out of share transfers from former owner Kalanithi Maran to the company's new management in 2015, making the airline liable to pay …

SpiceJet tells Delhi High Court it is 'struggling to stay afloat'
1 year, 4 months ago

SpiceJet tells Delhi High Court it is 'struggling to stay afloat'

Hindustan Times  

Indian budget airline SpiceJet told a court on Thursday it was “struggling to stay afloat”, as it was ordered to make a payment to its former owner over money owed. In 2018 SpiceJet lost an arbitration case arising out of share transfers from former owner Kalanithi Maran to the company's new management in 2015, making the airline liable to pay …

SpiceJet enters into settlement agreement with aircraft lessor Goshawk Aviation, affiliates
2 years, 4 months ago

SpiceJet enters into settlement agreement with aircraft lessor Goshawk Aviation, affiliates

India TV News  

Highlights Goshawk Aviation Limited is one of the main lessors of the MAX aircraft of SpiceJet The parties have agreed to settle their disputes under and related to the aircraft lease agreements The agreement ends all litigation proceedings between the parties SpiceJet on Tuesday announced a settlement agreement with aircraft lessor Goshawk Aviation Limited and its affiliated leasing entities Wilmington …

SpiceJet director Ajay Singh booked for allegedly duping businessman of lakhs, airline calls case 'bogus'
2 years, 5 months ago

SpiceJet director Ajay Singh booked for allegedly duping businessman of lakhs, airline calls case 'bogus'

India TV News  

Highlights Complaint of alleged fraud filed by an individual against Chairman Ajay Singh is bogus: SpiceJet A defamation suit will be filed against the complainant Amit Arora, said SpiceJet According to complaint, Singh had delivered fake depository instruction slip for 10L shares to Arora SpiceJet news updates : SpiceJet on Tuesday said the complaint of alleged fraud filed by an …

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