SpiceJet (SG, Delhi International) has sought respite from one of its lessors after delays in the delivery of its B737-8s impacted revenue inflows.

According to an assessment by the Crisl ratings agency, owing to stretched liquidity, the Indian LCC was forced to seek a three-month grace period from its "lessor" [unspecified but believed to be CDB Aviation] in terms of lease payments.

"Delay in delivery of Boeing 737 MAX aircraft further led to liquidity mismatch as the company was to receive healthy profits on sale and leaseback transaction [sic]," it said.

SpiceJet had planned to take delivery of fifteen B737 MAX 8s by March 2018. However, its first of the type, VT-MAX (msn 60644), only delivered at the beginning of this month.

Commenting on the Crisl assessment, SpiceJet told LiveMint that "with regard to one single lessor mentioned in the Crisl report, we had taken a one-time relief of 2-3 months to better manage cash flows during the lean month of September 2018."

India's carriers are facing an increasingly difficult market given rising domestic and international competition, a strengthening dollar, and increased fuel costs.