SpiceJet settles ₹60 crore Aviator ML claim; NCLT defers rulings on seven other pleas

SpiceJet has resolved Aviator ML’s aircraft-lease dispute, leading to withdrawal of its insolvency petition. The NCLT has deferred verdicts on seven remaining lessor pleas involving claims exceeding ₹500 crore and ordered fresh hearings.

— Source published Wed, 19 Aug, 2026, 13:04 IST · First seen Wed, 19 Aug, 2026, 13:09 IST · Source Outlook Business

What happened

SpiceJet settled Aviator ML’s roughly ₹60 crore aircraft-lease dispute, prompting withdrawal of its insolvency plea. NCLT deferred verdicts on seven other

Key facts

  • ₹60 crore
  • Eight insolvency petitions
  • Claims above ₹500 crore
  • ₹15 lakh costs
  • Seven remaining cases
  • Six lessors
  • July 29

Why this matters

Any partnership, financing or asset transaction involving SpiceJet should price in unresolved creditor exposure, as seven active lessor pleas remain subject to fresh NCLT hearings.

What to watch

  • NCLT rulings or fresh hearing dates for the seven pending lessor pleas and whether any petition is admitted.
  • Settlement announcements, payment schedules, or claim reductions involving the remaining lessors.
  • Changes in SpiceJet's cash balance, overdue payables, aircraft lease liabilities, and provisions for litigation.
  • Fleet activation or further aircraft grounding, particularly aircraft linked to disputing lessors.
  • Flight cancellation rates, on-time performance, and capacity deployment versus domestic competitors.
  • Any new creditor, engine lessor, airport, or vendor legal action indicating broader payment stress.
  • Prioritize settlements with lessors tied to aircraft that can be returned to service or whose claims pose the highest insolvency risk.
  • Seek structured payment plans, claim discounts, and lease-term revisions rather than large upfront cash payouts.
  • Use the Aviator ML withdrawal as evidence of improving creditor negotiations in discussions with suppliers, lenders, and regulators.
  • Accelerate monetization of grounded aircraft, spare parts, slots, and non-core assets where possible to fund settlements.
  • Maintain capacity discipline until legal liabilities and fleet availability are clearer, avoiding aggressive route expansion that increases cash burn.