2 weeks ago
SpiceJet Bankruptcy Petitions Sent Back To New NCLT Bench
Some aircraft lessors say SpiceJet owes them money.
They asked an Indian tribunal to consider bankruptcy cases against the airline.
The tribunal had prepared one decision covering eight petitions.
One lessor, Aviator ML, settled with SpiceJet and withdrew its case.
This changed the decision the tribunal had prepared.
Because a tribunal member was retiring, there was not enough time to rewrite the decision.
A new bench will hear the seven remaining cases again.
This gives SpiceJet more time, but the airline still faces financial and operating problems.
India’s NCLT ordered fresh hearings for seven remaining insolvency petitions against SpiceJet.
The tribunal had prepared a judgment covering eight petitions filed by aircraft lessors.
Aviator ML withdrew its petition after reaching a settlement with SpiceJet.
The withdrawal meant the prepared judgment had to be rewritten before a panel member’s retirement.
The order temporarily keeps SpiceJet’s existing management in control while lessors continue pursuing outstanding dues.
- Who
- SpiceJet, aircraft lessors including Aviator ML, and India’s National Company Law Tribunal.
- What
- Seven insolvency petitions against SpiceJet will be heard afresh by a newly constituted NCLT bench.
- Where
- At India’s National Company Law Tribunal in India.
- When
- The order was issued on Wednesday; one source reported the article was published on August 19, 2026.
- Why
- Aviator ML withdrew its petition after settling with SpiceJet, requiring the tribunal to revise its prepared judgment.
Aircraft Lessors
SpiceJet
Recovery of dues
Aircraft Lessors
Aircraft lessors have pursued insolvency petitions for several years to recover money they say SpiceJet owes them.
SpiceJet
SpiceJet says it is working constructively with its partners to reach mutually acceptable solutions.
Impact of fresh hearings
Aircraft Lessors
The rehearing delays a decision on the petitions and is a setback for leasing companies seeking payment.
SpiceJet
The new hearings provide temporary relief, allowing SpiceJet’s existing management to remain in control while the cases are reconsidered.
Airline recovery
Aircraft Lessors
The ongoing petitions reflect continuing disputes over SpiceJet’s outstanding obligations.
SpiceJet
SpiceJet says it is focused on rebuilding its operations, strengthening the airline, and restoring its fleet.
Key facts
- Tribunal
- India’s National Company Law Tribunal (NCLT).
- Remaining petitions
- Seven insolvency petitions will be reheard.
- Original petitions
- The prepared judgment covered eight petitions against SpiceJet.
- Settlement
- Aviator ML withdrew its petition after reaching a settlement with SpiceJet.
- Share price
- SpiceJet shares were trading 2.1% lower at 10.95 rupees after the order.
- Market share
- SpiceJet’s domestic market share was 1.9% in June, compared with about 15% at the end of 2019.
- Financial pressure
- The airline has faced cash-flow difficulties, including delayed salary payments to pilots, and has received financing through a government-backed credit programme.
Quotes
SpiceJet spokesperson
SpiceJet airline spokesperson
“"We view the order as a positive step towards resolving the outstanding matters and remain committed to working closely and constructively with our partners to find mutually acceptable solutions."”
firstpost.com
thehindubusinessline.com
“"SpiceJet has been through a challenging period and is focused on rebuilding the airline, strengthening its operations and restoring its fleet."”
thehindubusinessline.com
Sources
Related news
NCLT Fines SpiceJet, Aviator ML Over Late Settlement Disclosure
SpiceJet's Latest Reprieve Demands a Credible Recovery Plan
Why Global Aircraft Lessors Remain Wary of Indian Airlines
SpiceJet Seeks More Time for ₹50 Crore Maran Payment
SpiceJet Seeks More Time to Deposit ₹50 Crore
DGCA Reports Serious Findings in Four Indian Airlines’ Audits
Aviation Ministry Orders Airline Audits Ahead Of FAA Assessment
SpiceJet Ends Boeing 737 MAX Operations Amid Financial Crisis
