Lessors have applied to India's Directorate General of Civil Aviation (DGCA) to retrieve multiple SpiceJet (SG, Delhi International) aircraft according to the latest filings by the country's aviation regulator.
In the seven days to May 12, 2023, five different lessors have applied to have five aircraft de-registered and returned to them. This follows another lessor, Aircastle, filing an insolvency petition against the embattled airline earlier this month. On May 8, the aviation regulator listed three applications for de-registration.
- Falgu Aviation Leasing Limited requested to de-register VT-MXJ (man 64509), a B737-8 usually based at Varanasi;
- Sabarmati Aviation Leasing Limited requested to de-register VT-MXF (msn 64507), a B737-8 usually based at Chennai; and
- Wilmington Trust SP Services Limited requested to de-register VT-SZJ (msn 41397), a B737-8 usually based at Delhi International.
On May 12, another lessor's special purpose vehicle, GY Aviation Lease 1723 Company Limited, requested to de-register VT-MXX (msn 60184), a B737-8 usually based at Kolkata, while GY Aviation Lease 1819 Company Limited requested to de-register VT-MXH (msn 60646), a B737-8 usually based at Varanasi.
According to the ch-aviation fleets module, SpiceJet has 71 aircraft in its fleet, but only 34 of those are active. Recent ch-aviation reports have revealed that an ongoing series of legal challenges have muted plans to clean up the carrier's balance sheet through fresh capital raisings, reactivate aircraft, and expand the network,
On May 11, Chairman and Managing Director Ajay Singh went public, telling a market spooked by the recent Go First (GOW, Mumbai International) insolvency that his airline would not be going down the same path. "There is absolutely no question of filing for insolvency," he said. "Any rumour regarding the same is baseless. We are focused firmly on reviving our grounded fleet and getting more and more planes back into the air. Work on this front has already began."
ch-aviation data indicates SpiceJet leases 52 aircraft, including five B737-700s, three B737-700(BDSF)s, thirteen B737-8s, fourteen B737-800s, three B737-900ERs, and fourteen DHC-8-Q400s. Lessors with aircraft at SpiceJet include Air Lease Corporation, Aviator Capital, Avolon, BOC Aviation, Carlyle Aviation Partners, CDB Aviation, Cross Ocean Partners, Falko Regional Aircraft, GECAS, Nordic Aviation Capital, Pacific AirFinance, Park Aerospace Holdings, SMBC Aviation Capital, and Spectre Air Capital.
Singh told media that SpiceJet maintains a good relationship with its creditors, saying aircraft lessors have supported the airline "through thick and thin and continue to do so."
