SpiceJet (SG, Delhi International) is facing a fresh bid to have it declared insolvent after three special purpose vehicles (SPVs) controlled by lessor DAE Capital launched legal action at India’s National Company Law Tribunal (NCLT) last month.
According to open-source NCLT records, AWAS 36698 Ireland Limited, AWAS 36695 Ireland Limited, and AWAS 36694 Ireland Limited filed insolvency petitions on March 9, 2024. The matters were briefly mentioned in court in this week and adjourned until May 30. The court asked SpiceJet to file its first response within the next two weeks.
The aircraft, all B737-800s, were leased to SpiceJet between 2019 and 2022 and entered the Indian register as VT-SYY…
