{"id":10833,"date":"2023-12-11T14:11:20","date_gmt":"2023-12-11T11:11:20","guid":{"rendered":"https:\/\/aviation-news.info\/?p=10833"},"modified":"2023-12-11T14:11:20","modified_gmt":"2023-12-11T11:11:20","slug":"indias-spicejet-eyes-%e2%82%b915bn-in-new-capital","status":"publish","type":"post","link":"https:\/\/aviation-news.info\/?p=10833","title":{"rendered":"India’s SpiceJet eyes \u20b915bn in new capital"},"content":{"rendered":"

Air aviation news – Two parties are mulling a large investment in SpiceJet<\/a>\u00a0(SG,\u00a0Delhi International<\/a>), according to Indian media reports. As\u00a0reported in ch-aviation<\/a>, the LCC’s board is meeting on December 13, 2023, to consider capital raising options, and the prospect of having more than one interested investor has increased the amount of money the airline hopes to raise.<\/p>\n

Last week, the LCC advised the Bombay Stock Exchange (BSE) that it is considering options to raise fresh capital. The December 6, 2023, filing said the board meeting would “discuss and consider, inter-alia, options for raising fresh capital through issue of equity shares and\/or convertible securities on preferential basis.” Indian business outlets say the airline was scouting for INR10 billion rupees (USD120 million) to INR12 billion (USD144 million) in funding. However, with more than one potential investor on the cards, the target figure has been revised upwards to around INR15 billion (USD180 million). The additional funds would go towards day-to-day expenses such as payroll and also help fund the aircraft reactivation process. Twenty-three of SpiceJet’s 67 aircraft remain out of service for various reasons. Any capital raising remains subject to shareholder and regulatory approval.<\/p>\n

Separately, SpiceJet and Celestial Aviation Partners told the Delhi bench of the National Company Law Tribunal on December 7 that they were in\u00a0settlement talks<\/a>\u00a0and requested additional time. SpiceJet owes Celestial USD29.9 million in unpaid leases involving nine aircraft. The lessor is one of three attempting to have the LCC declared insolvent in the National Company Law Tribunal, the others being\u00a0Aircastle<\/a>\u00a0(which has three separate applications running, each involving separate SPVs) and\u00a0Wilmington Trust SP Services (Dublin)<\/a>. Recently, the NCLT dismissed an insolvency petition filed by engine lessor\u00a0Willis Lease Finance<\/a>, although that entity told ch-aviation that they will continue to seek redress in superior courts. In addition, lessors and other creditors have other lawsuits active against SpiceJet in other courts in India and overseas. This week, the NCLT agreed to adjourn the Celestial matter until January 19, 2024.<\/p>\n

Meanwhile, a Dubai International Financial Centre (DIFC) court has ordered the release of a\u00a0B737-800<\/a>\u00a0seized by an aircraft lessor earlier this month. VT-SLM (msn 35063) was operating a scheduled passenger flight from\u00a0Ahmedabad<\/a>\u00a0to\u00a0Dubai International<\/a>\u00a0on December 1 when it suddenly diverted to\u00a0Dubai World Central<\/a>, where an engine lessor was waiting with court-issued seizure documents.<\/p>\n

“In a DIFC Court hearing on December 7, 2023, the order was discharged in favour of SpiceJet,” reads a SpiceJet statement on the matter. “Additionally, the judge has directed an inquiry into losses suffered by SpiceJet as a result of the order having been made. The court has further ordered to pay towards the legal costs incurred by SpiceJet.\u201d<\/p>\n

VT-SLM ferried out to\u00a0Mumbai International<\/a>\u00a0on December 8 and returned to revenue operations the following day. However, ADS-B flight tracking data shows the aircraft has not ventured out of Indian airspace.<\/p>\n

source: https:\/\/www.ch-aviation.com\/portal\/news\/134941-indias-spicejet-eyes-15bn-in-new-capital<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Air aviation news – Two parties are mulling a large investment in SpiceJet\u00a0(SG,\u00a0Delhi International), according to Indian media reports. As\u00a0reported in ch-aviation, the LCC’s board is meeting on December 13, 2023, to consider capital raising options, and the prospect of having more than one interested investor has increased the amount of money the airline hopes …<\/p>\n","protected":false},"author":1,"featured_media":10834,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpscppro_dont_share_socialmedia":null,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"","_twitter_share_type":"","_linkedin_share_type":"","_pinterest_share_type":"","_linkedin_share_type_page":"","_instagram_share_type":"","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":[],"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[102,88],"tags":[],"class_list":["post-10833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured-en","category-flights"],"yoast_head":"\nIndia's SpiceJet eyes \u20b915bn in new capital - aviation news<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aviation-news.info\/?p=10833\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India's SpiceJet eyes \u20b915bn in new capital\" \/>\n<meta property=\"og:description\" content=\"Air aviation news – Two parties are mulling a large investment in SpiceJet\u00a0(SG,\u00a0Delhi International), according to Indian media reports. 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