NCLT to rehear seven aircraft-lessor insolvency petitions against SpiceJet
The National Company Law Tribunal will hear seven insolvency petitions against SpiceJet afresh after lessor Aviator ML withdrew its case following a settlement. SpiceJet said it is working to resolve outstanding matters, rebuild operations and restore its fleet.
What happened
NCLT will rehear seven aircraft-lessor insolvency petitions against SpiceJet after Aviator ML withdrew its case following a settlement. SpiceJet said it is
Key facts
- Seven insolvency petitions will be heard afresh
- The original judgment covered eight petitions
Why this matters
Potential partners or acquirers should view SpiceJet’s unresolved lessor disputes as a material diligence issue affecting fleet access, liabilities and deal timing.
What to watch
- NCLT hearing dates, admission orders, adjournments or petition withdrawals.
- Disclosure of settlement amounts, payment schedules or creditor standstill agreements.
- Number of aircraft returned to service versus aircraft grounded or repossessed.
- Quarterly operating cash flow, liquidity disclosures and any new equity/debt fundraising.
- Additional lessor, airport, vendor or employee claims reaching tribunal or court.
- Pursue case-by-case settlements with the seven petitioning lessors and seek withdrawals or adjournments before substantive hearings.
- Prioritize cash toward aircraft lease arrears, maintenance obligations and restoration of grounded capacity.
- Use fleet-return progress and improved load factors to support negotiations with creditors and prospective financiers.
- Seek further capital, asset monetization or structured funding if settlement obligations exceed operating cash generation.