Spicejet repossessions underway
Approximately 10 aircraft have been or are being repossessed from Indian low-cost carrier Spicejet, aviation consultancy IBA has said.
Spicejet was not available for comment.
Airfinance Journal's Fleet Tracker shows that Spicejet only owns three of its 113 aircraft, with the remainder on operating and finance lease agreements.
The data also shows that China’s ICBC Leasing has the greatest exposure to Spicejet by asset value, followed by Carlyle, BOC Aviation, DAE Capital, and Aircastle.
In late March, Gurgaon-headquartered Spicejet returned five Boeing 737-800s to Turkey’s Corendon Airlines.
At the time, Spicejet chief financial officer Kiran Koteshwar told AFJ that these were the last remaining ACMI aircraft in the Indian low-cost carrier’s fleet following the return of two Airbus A320s to BH Air earlier in March.
Separately, Spicejet continues to fight a legal battle against De Havilland of Canada (DHC) over the alleged non-fulfilment of a Dash8-400 order by the airline.
HDFC Trustee, a subsidiary of Mumbai-based Housing Development Finance, has acquired 34,000,000 Spicejet shares in the open market for about $16 million, which represents an approximate 5.5% stake in the budget carrier.
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Request a demo nowRegional Snapshot
Deals
Deal Name | Stage |
---|---|
SpiceJet | A/c purchase | 03-24 | 13xDHC8-400 | Finance mandated |
SpiceJet | A/c purchase | 04-24 | 6xDHC8-400 | Finance mandated |
Nepal Airlines | Commercial loan (RFP) | 01-24 | $1bn | RFP |
Air India | Operating lease | 02-24 | 6xA320neo | Finance mandated |
Nepal Airlines | Operating lease (RFP) | 02-24 | 2xA/c | RFP |
Vistara | Finance lease | 03-24 | $223m (est.) | 3xA/c | Financial close |
BeOnd | Operating lease | 03-24 | 1xA321 | Financial close |
Air India Express | Sale leaseback | 03-24 | $234m (est.) | 6x737 Max | Financial close |
Star Air | Operating lease | 03-24 | 4xE175 | Financial close |
SpiceJet | A/c purchase | 03-24 | 2x737-700 | Financial close |
Related Data
Regional Snapshot
Deals
Deal Name | Stage |
---|---|
Some Air | Finance lease (RFP) | 03-23 | $1.35bn (est.) | 21xA/c | RFP |
Some Airlines | Operating lease | 03-23 | 2x737-800 | Finance mandated |
someJet | Bond issue | 03-23 | €850m | Financial close |
Airsomething | Operating lease | 03-23 | 1x737-800 | Financial close |