SpiceJet is facing renewed financial trouble as three Ireland-based aircraft lessors and a former pilot have filed insolvency petitions against the budget carrier in the National Company Law Tribunal (NCLT), citing unpaid dues.
Lessors NGF Alpha, NGF Genesis, and NGF Charlie have moved NCLT under Section 9 of the Insolvency and Bankruptcy Code (IBC), seeking to initiate insolvency proceedings over outstanding payments totaling $12.68 million (about ₹110 crore). The lessors, who had leased five Boeing 737s to SpiceJet, have also accused the airline of removing aircraft parts, including engines, and using them in other planes.
During the NCLT proceedings earlier this week, SpiceJet requested time to resolve the dispute, stating…
