

The DGCA subsequently confirmed it had done so on August 31.Īccording to the ch-aviation fleets ownership module, both aircraft are owned by Nomura Babcock & Brown and managed by BBAM and are registered under the trusts Horizon Aircraft Finance I Ltd and Horizon Aircraft Finance II Ltd, respectively. Horizon had lodged the requests to delist B737-800s VT-SGQ (msn 37365) and VT-SPU (msn 34953), on August 25, and the authority will deregister the two Boeing aircraft by September 1, officials confirmed to India’s Business Standard newspaper. One more lessor, this time Dublin-headquartered Horizon Aviation, has filed a request with India’s Directorate General of Civil Aviation (DGCA) to deregister two B737-800s leased to financially-challenged low-cost carrier SpiceJet (SG, Delhi Int'l). Click here.Īnother lessor asks India to deregister two SpiceJet B737s - 02:49 UTC Get your own ch-aviation PRO account today.

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To access our news database including full archive search and exclusive stories reported first by ch-aviation you need to upgrade to ch-aviation PRO. Earlier this month, three Indian banks internally categorised loans to SpiceJet as being “high risk” even though the airline has not defaulted. It has also been under the spotlight in recent months for a number of safety issues and for settling several long-running high-profile commercial disputes. As of late 2021, it had cash and cash equivalents of only INR729 million (USD9.1 million) compared with a total debt of INR97.5 billion (USD1.22 billion). The loss-making carrier’s financial health worsened in 2020 after the Covid outbreak, and its market share has since plunged from second largest to fifth. SpiceJet has yet to declare its results for the fourth quarter, ending March 31, which it had originally announced for May 30 but delayed the release of, claiming that a ransomware attack on its IT systems had affected the completion of the audit process. Regardless, the latest news boosted SpiceJet’s stock price by 6%, the Economic Times newspaper reported. Earlier in the month, a media report claimed it was discussing the issue with an unnamed Middle Eastern carrier. He declined to say which other airlines SpiceJet may be in talks with about a stake sale. The company will also raise capital with the sale and lease-back of at least seven of its B737-8 MAX this year, he said. Singh had told it that “recently the airline board passed a resolution to raise the funds for its sustainability and future expansion” and that “all options are being explored.” The financially troubled airline is looking at “multiple ways to raise funds” including government lending schemes and “a stake or equity sale,” the television news channel ET Now said in a broadcast and a tweet on August 23. SpiceJet (SG, Delhi Int'l) chairman and managing director Ajay Singh has put the word out that the low-cost carrier is open to investment from external parties, including other airlines, as it strives to raise INR20 billion rupees (USD250 million).
