Now, SpiceJet facing rough weather over insolvency plea

All aircraft from this lessor have already been returned by SpiceJet. We are confident of resolving the matter, said SpiceJet

New Delhi: SpiceJet too seems to be facing headwinds, with a lessor filing a plea seeking insolvency resolution proceedings against the no-frills airline and the petition is scheduled for hearing before the National Company Law Tribunal (NCLT) next week. It also comes at a time when competitor and cash-starved Go First has cancelled flights and has filed for voluntary insolvency resolution proceedings. Aircraft lessor Aircastle (Ireland) Ltd has filed the petition against SpiceJet for initiating insolvency resolution proceedings.

The plea was filed on April 28 and it is to be heard by the NCLT Principal Bench on May 8, according to an update on the tribunal’s website.

A SpiceJet spokesperson said presently, there are no aircraft from this lessor in the airline’s fleet and that the development will in no way affect its operations.