SpiceJet Grounded by Insolvency Petitions: Can It Take Off Again?

SpiceJet is in renewed financial trouble after three Ireland-based aircraft lessors and an erstwhile pilot had approached the tribunals, seeking insolvency pleas against SpiceJet. These lessors stated SpiceJet has defaulted on repayments of $12.68 million, as they accused SpiceJet of snatching aircraft spares. Even an ex-pilot has sued for unpaid employee dues of ₹1.70 crore. The National Company Law Tribunal (NCLT) has fixed the next hearing for April 7, 2025, for the lessors and April 15 for the case of the pilot. SpiceJet is requesting time to settle these matters as settlement negotiations are on.

Source: NewsX, News24Online, The Week.