Saturday, May 13, 2023

Another SpiceJet lessor requests to deregister 2 more planes: DGCA

In further headwinds for struggling SpiceJet, another lessor GY Aviation Lease on May 12 approached aviation regulator DGCA for the deregistration of two more Boeing 737-8 aircraft of the airline, a DGCA official said.

Many aircraft of the budget carrier are grounded due to various reasons. Recently, the airline's three lessors -- Wilmington Trust SP Services, Sabarmati Aviation Leasing and Falgu Aviation Leasing -- had sought the deregistration of one aircraft each, according to an update on the regulator's website.

The latest development comes after the National Company Law Tribunal (NCLT) on May 8 issued a notice to the Ajay Singh-promoted private carrier on a petition filed by an aircraft lessor seeking initiation of insolvency resolution proceedings against it. The tribunal is scheduled to hear the plea on May 17.

However, the budget carrier said it has no plans to file for insolvency proceedings and has also started the process of reviving its grounded fleet with $50 million.

According to an aircraft tracking website, SpiceJet had 67 aircraft in its fleet comprising Boeing 737, B737 Max and regional jets Bombardier-Q400. Of them, 37 were in operation and 30 not in service as on May 3.

12/05/2023 Moneycontrol

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