Aircraft lessor Wilmington Trust SP Services (Dublin) Ltd has moved the National Company Law Tribunal (NCLT) to initiate insolvency against Indian low cost carrier SpiceJet. Wilmington Trust was one of the airline’s three lessors that sought the deregistration of one aircraft each, according to an update on the regulator’s website. Last month, the Directorate General of Civil Aviation (DGCA) deregistered three planes of SpiceJet at the request of lessors, one of the aircrafts belonged to Wilmington.
Now according to the tribunal’s causelist, the case is likely to come up for hearing on June 12. Apart from Wilmington Trust, Sabarmati Aviation Leasing and Falgu Aviation Leasing sought the deregistration of the aircrafts. The DGCA deregistered the planes with call signs VT-MXJ, MXF and SZJ.
Also Read: SpiceJet gets NCLT’s notice on aircraft lessor’s insolvency petition
Earlier, the NCLT 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.
“Two of the three planes are grounded for a long period now and the same doesn’t affect our operations,” a SpiceJet spokesperson said in a statement. “We are in discussion to resolve the matter. We have been working to bring back our grounded fleet basis the loan sanctioned under the ECLGS (Emergency Credit Line Guarantee Scheme),” the spokesperson added.
According to an aircraft tracking website, SpiceJet had 67 aircraft in its fleet comprising Boeing 737, B737 Max and regional jets Bombardier-Q400. Out of them, 37 were in operations and 30 were not in service as on May 3. SpiceJet said it has mobilised up to ₹400 crore to revive 25 aircraft in its fleet that are out of operations owing to various factors.
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Updated: 11 Jun 2023, 03:22 PM IST
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