SpiceJet

Aug 19 (Reuters) -

• INDIA COURT: TO RE-HEAR LESSORS' SPICEJET INSOLVENCY PLEA AFTER WITHDRAWAL BY ONE LESSOR

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Aug 17 (Reuters) -

• SPICEJET INFORMS INDIA COURT THE AIRLINE HAS SETTLED DISPUTE WITH SOME LESSORS

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July 23 (Reuters) - Spicejet Ltd SPJT.BO:

• SPICEJET - INDUCTS THREE AIRBUS A320 AIRCRAFT UNDER DAMP LEASE

• SPICEJET - THREE AIRBUS A320 AIRCRAFT TO BEGIN COMMERCIAL OPERATIONS THIS WEEK

• SPICEJET - IN ADVANCED TALKS TO INDUCT MORE AIRCRAFT FOR FLEET AUGMENTATION

Source text: ID:nBSE5s4Hg8

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July 17 (Reuters) - India's Government:

• INDIA'S GOVERNMENT: CENTRAL CONSUMER PROTECTION AUTHORITY IMPOSES 100,000 RUPEES PENALTY ON SPICEJET FOR USE OF DARK PATTERNS ON FLIGHT BOOKING PLATFORM

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This July 13 story was updated throughout on July 14 with details of lessors' owner, background on India leasing law, SpiceJet comment, plans to seek more funding, fleet status

By Abhijith Ganapavaram

NEW DELHI, July 13 (Reuters) - Two Irish entities owned by the leasing arm of Industrial and Commercial Bank of China have asked India's aviation regulator to deregister four Boeing 737 MAX aircraft leased to SpiceJet SPJT.BO, regulatory documents showed, a step towards repossessing the jets.

The notices, made public by the regulator on Monday, represent a test of a law passed by India last year that was intended to make it easier for lessors to repossess aircraft.

The applications from Sky High LXXX Leasing Company Ltd and Sky High LXXVIII Leasing Company Ltd did not state why they were seeking deregistration.

Corporate records showed the two companies are owned by ICBC Financial Leasing, whose parent is state-owned ICBC 601398.SS, the world's largest lender by assets. ICBC Financial Leasing did not immediately respond to a request for comment.

SpiceJet, India's fourth-largest airline, has slashed its flight schedule, grounded planes, delayed salaries to many of its pilots and sought financing under a government-backed credit scheme to help stabilise its operations.

The airline has received 1.5 billion rupees ($15.60 million) from the government scheme and hopes to receive another 3.5 billion rupees in the coming days, a source with direct knowledge of the matter said. SpiceJet did not respond to a request for comment about the funding.

At least two aircraft lessors have served payment default notices to the airline this year, Reuters also reported.

In a statement, SpiceJet said the four aircraft that ICBC was seeking to deregister had been grounded for a prolonged period because of manufacturing issues related to the high-pressure turbines in their engines.

"The de-registration of these aircraft will eliminate lease rental costs on assets that have remained non-operational for a prolonged period," a SpiceJet spokesperson said, adding that there would be no impact on the airline's operations.

Just 11 of SpiceJet's fleet of 53 aircraft were listed as in service by aircraft-tracking website Planespotters.net.

Shares in SpiceJet have fallen nearly 63% since the start of the year, while shares in InterGlobe Aviation INGL.NS, the owner of India's biggest airline, IndiGo, are up nearly 1% over the same period.

($1 = 96.1475 Indian rupees)

(Reporting by Abhijith Ganapavaram in New Delhi; Additional reporting by Julie Zhu in Hong Kong and Urvi Dugar in Bengaluru; Editing by Jamie Freed)

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July 13 (Reuters) - Spicejet Ltd SPJT.BO:

• LESSORS SEEK TO DEREGISTER 4 BOEING 737 MAX JETS LEASED TO INDIA'S SPICEJET - INDIA AVIATION REGULATOR DOCUMENT

• DEREGISTRATION REQUESTS FOR 4 SPICEJET JETS FILED ON JULY 9 - DGCA DOCUMENT

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By Abhijith Ganapavaram

NEW DELHI, June 9 (Reuters) - Indian airline SpiceJet SPJT.BO has delayed salary payments to many of its pilots since March, internal messages seen by Reuters show, as the cash-strapped carrier said it is seeking an emergency loan under a government-backed credit scheme to help stabilise operations.

SpiceJet was India's second-largest domestic carrier by market share in 2019, carrying roughly 15% of passengers, but that has since fallen to a fourth-place share of 3.4%. Its long-standing financial troubles have been worsened by the Middle East conflict, which has pushed up fuel prices and restricted airspace access, pressures that have also hit larger rivals IndiGo INGL.NS and Air India.

SpiceJet had 375 pilots as of March and has had salary payments pending for several months, according to two pilots and a Reuters review of chats from a WhatsApp group with more than 180 members, including pilots who fly Boeing BA.N aircraft and at least one senior airline official.

In one message, SpiceJet's senior vice president of flight operations, Virendra Malhotra, wrote on May 26 that he was aware "that all of you are going through a difficult phase owing to the delay in salary disbursement" and said the balance of February salaries would be released shortly.

"These are testing times, no doubt, but they are temporary."

In response, one pilot said the message was "reassuring", but asked if there was any timeline for release of March, April and May salaries.

Asked for comment, Malhotra told Reuters in a WhatsApp message, "I categorically deny having issued any such communication."

In a statement to Reuters, SpiceJet acknowledged there had been payment delays. "Employee payments continue to be disbursed in a phased manner, consistent with the process followed over the past several months, and a majority of employees have already been paid for March," the airline said.

The WhatsApp messages reviewed by Reuters show the impact on pilots' daily lives, at a time when concerns are mounting globally around pilot fatigue and mental health.

"Managing day to day expenses has become really really challenging and have reached a stage where we are having to seek assistance from others to manage essential financial commitments," the pilot wrote in a message that elicited 52 emoji reactions, including thumbs-up and heart emojis.

India's aviation regulator did not respond to Reuters queries on SpiceJet's salary issues and whether the uncertainty over pay could affect safety.

SEEKING GOVERNMENT HELP

SpiceJet told Reuters it was actively pursuing funding under the Indian government's so-called "Emergency Credit Line Guarantee Scheme", under which airlines can access seven-year government-guaranteed loans of up to 15 billion rupees ($156.74 million).

"All efforts are being made to achieve normalcy," SpiceJet said, adding that "extraneous factors", including the ongoing Middle East crisis, were weighing on operations and cash flows. The airline said it expected to normalise business activities over the next few months.

SpiceJet has an operational fleet of 21 aircraft. The airline said on Monday it had returned a Boeing 737 MAX jet to commercial service and finalised a lease including some crew for three Airbus AIR.PA A320 aircraft, which are scheduled to join its fleet in July, to meet growing passenger demand.

Its stock has fallen 60% this year, versus a 13.8% decline for India's biggest airline, IndiGo.

SpiceJet's scheduled flights fell to 3,053 in May from 4,494 in January, according to data from aviation analytics firm OAG.

FINANCIAL WOES

High taxes, fierce competition and supply-chain snags have driven Indian airlines Kingfisher, Jet Airways and Go First into bankruptcy over the last 15 years.

SpiceJet, which launched flights under its current brand in 2005, has deferred pay to staff at various periods of financial trouble dating back to at least 2014, according to reports by Reuters and Indian media.

SpiceJet's more recent decline followed the global Boeing 737 MAX grounding in 2019, which left roughly a tenth of the airline's then-fleet grounded. Its recovery was then hit by the COVID-19 pandemic and a host of legal and payment disputes.

The airline has reported annual losses since 2019, except in the year ended March 2025, when it posted a small profit after recognising a one-time gain from settlements with lessors.

At least two aircraft lessors have served payment default notices to the airline this year, said a source with direct knowledge of the matter. SpiceJet did not comment on the default notices.

($1 = 95.7000 Indian rupees)

(Reporting by Abhijith Ganapavaram; Editing by Aditya Kalra and Jamie Freed)

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** Shares of InterGlobe Aviation INGL.NS, operator of India's IndiGo airline turn positive, hitting a day's high of about 2.13% at 4516.20 rupees

** Stock reverses course after India cabinet approves 100 billion rupees ($1.05 billion) for an aviation fuel price stabilisation fund

** Shares of budget carrier SpiceJet SPJT.BO also turned positive, jumping 4.9% to 12.79 rupees after the news

** Aviation turbine fuel is among the largest operating costs for airlines

** Last month, Indigo said it was considering fuel hedging after rising crude prices squeezed margins and pushed it to a quarterly loss

** YTD INGL down 10.10% while SPJT fell 59.21%

(Reporting by Surbhi Misra in Bengaluru)

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April 16 (Reuters) - Spicejet Ltd SPJT.BO:

• SPICEJET SPOKESPERSON- AIRCRAFT INVOLVED IN A GROUND OCCURRENCE WHILE TAXIING AT DELHI AIRPORT, RESULTING IN SOME DAMAGE

• SPICEJET SPOKESPERSON- AIRCRAFT HAS BEEN GROUNDED AT DELHI

Source text: [ID:]

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Adds Air India Express statement in paragraph 18

By Abhijith Ganapavaram and Aditya Kalra

NEW DELHI, April 10 (Reuters) - Dubai has restricted foreign airlines to just one daily flight to its airports until May 31 due to the Iran crisis, igniting revenue loss fears among Indian carriers that had planned more flights than airlines from any other country, letters show.

The Federation of Indian Airlines (FIA), which represents top carriers IndiGo INGL.NS, Air India and SpiceJet SPJT.BO, has asked India to push Dubai authorities to lift the curbs and, failing that, to consider reciprocal measures on Dubai carriers including Emirates and flydubai, according to a letter it sent to the Indian government on March 31.

Indian carriers are already under financial pressure from higher fuel prices and longer routings to Western destinations because they have been banned from using Pakistani airspace since last year following military tensions between the two neighbours.

In a private email to airlines on March 27, seen by Reuters, Dubai Airports said carriers would be allowed one round trip per day to Dubai International Airport (DXB), normally the world's busiest international travel hub, and the smaller Al Maktoum International Airport (DWC) during the summer season between April 20 and May 31, extending restrictions implemented after the war began.

"Carriers continue to be limited to one rotation per day, until capacity allows more to be facilitated ... Additional slots will be allocated if capacity is available," it said.

The FIA told the Indian government the curbs were not being applied to Dubai's airlines such as Emirates and flydubai, creating an uneven playing field that could lead to "substantial" revenue losses.

Dubai Airports and Dubai's media office did not respond to repeated requests for comment. Flydubai said its flight schedules were approved by the relevant authorities. Emirates did not respond to a request for comment.

The measures come after Emirates and other Gulf airlines have long complained about India's bilateral air service agreements that cap the number of seats that can be deployed between countries. Indian authorities have said such pacts protect Indian airlines in the cutthroat market.

INDIAN CARRIERS HARDEST HIT BY CAPS

India was the largest source of passengers for DXB in 2025, with 11.9 million travellers passing through the hub.

The Dubai caps will hit Indian airlines the hardest, according to April and May schedules data from Cirium.

Air India and its budget carrier Air India Express have scheduled more than 750 flights into DXB in that period. IndiGo has 481, followed by Saudia and Gulf Air, which planned for 480 and 404, respectively. India's SpiceJet had planned 61.

The one-flight-per-day cap would mean 30 or 31 per month for each foreign airline, versus the hundreds of daily flights being flown by Emirates and flydubai according to Flightradar24 data.

IndiGo told Reuters in a statement that the Middle East crisis and the new Dubai extended restrictions "significantly constrained" its operations as it had an approved summer schedule of 15 daily flights from India to Dubai.

"As a result, a significant portion of IndiGo’s capacity and aircraft time is currently underutilized," IndiGo said in its first comments on the crisis.

Air India, SpiceJet SPJT.BO and Indian authorities did not respond to requests for comment.

Air India Express told Reuters the restrictions had “significantly curtailed” its planned services despite relatively high demand on India-UAE routes, limiting options for travellers, particularly from smaller cities, and underscored the need for a “fair and reciprocal operating framework.”

Other major airlines such as Lufthansa LHAG.DE, Singapore Airlines SIAL.SI, and British Airways had far fewer flights to Dubai than Indian carriers before the crisis began and have cancelled all flights to the city until at least May 31.

They are instead adding more non-stop Asia-Europe flights to take advantage of strong passenger demand that has pushed up prices.

(Reporting by Abhijith Ganapavaram and Aditya Kalra; Editing by Jamie Freed)

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By Abhijith Ganapavaram

NEW DELHI, April 9 (Reuters) - A UK court has ordered India's SpiceJet SPJT.BO to pay about $8 million to an aircraft engine lessor over unpaid rent and maintenance charges for three engines, in the latest setback for the cash-strapped airline.

London's Commercial Court granted summary judgment on Wednesday in favour of Sunbird France 02 SAS over the unpaid rent and maintenance accruals, finding that SpiceJet had no viable defence.

The ruling comes as SpiceJet remains under financial strain following the Boeing 737 MAX grounding and COVID-19 pandemic, and losing market share to rivals such as Akasa Air.

The unpaid rent dates from January 2022, while maintenance accruals date back to November 2020. The lessor issued default notices in July 2022 and repossessed all three engines between late 2022 and mid-2023.

SpiceJet initially hired British solicitors but never filed a defence or response to Sunbird's application, the judgement showed.

The airline did not respond to an email seeking comment.

Its auditors have warned of uncertainty over the airline's ability to continue as a going concern, citing mounting losses and a gap between current liabilities and assets, according to its latest results.

($1 = 92.6575 Indian rupees)

(Reporting by Abhijith Ganapavaram
Editing by Bernadette Baum)

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By Abhijith Ganapavaram and Aditya Kalra

NEW DELHI, March 20 (Reuters) - An airlines group representing IndiGo INGL.NS, Air India and SpiceJet SPJT.BO has warned the Indian government of route withdrawals and delayed fleet and network expansions if fare caps imposed in December are not revoked, a letter shows.

The letter highlights growing financial pain in the world's fastest-growing market where, even before the Iran crisis, airlines were hit hard by a Pakistani airspace ban for international operations due to diplomatic tensions.

In December, widespread aviation disruptions due to mass flight cancellations by IndiGo over operational issues prompted authorities to cap airfares depending on the distance, with the maximum being 18,000 rupees ($192.04) for a one-way journey.

The crisis has since eased, but caps remain in place without any timeline. Indian airlines are incurring "huge" revenue losses and face higher operational costs in part because of a jump in jet fuel prices due to the Iran war, the Federation of Indian Airlines said in a private letter to the government on March 12, seen by Reuters.

CURRENT SITUATION MAY THREATEN VIABILITY

"If the current situation continues, airlines will face severe financial losses, pushing several operators closer to unsustainable financial conditions and potentially threatening their continued viability," the March 12 letter, which was not made public, said.

The civil aviation ministry and the FIA did not respond to requests for comment. IndiGo and Air India, which control more than 90% of India's domestic market, did not respond. A spokesperson for SpiceJet also did not respond to a request for comment.

A $1 per barrel change in fuel prices could impact IndiGo's full-year fuel bill by about 3 billion rupees, HSBC analysts have said. Jet fuel prices have risen sharply in recent days due to the Middle East war.

IndiGo and Air India are also flying longer routes to reach Europe and North America owing to airspace restrictions.

In a separate letter sent on Thursday, the FIA also urged the government to withdraw a directive mandating that a minimum 60% of seats on any flight be made available without additional charges for seat selection, saying it could lead to higher fares.

($1 = 93.7320 Indian rupees)

(Reporting by Abhijith Ganapavaram; Editing by Pooja Desai)

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March 10 (Reuters) -

• INDIA GOVERNMENT: AIRLINES ARE MAKING APPROPRIATE OPERATIONAL ARRANGEMENTS IN RESPONSE TO THE EVOLVING SITUATION IN WEST ASIA

• INDIA GOVERNMENT: AIR INDIA, AIR INDIA EXPRESS WILL OPERATE FLIGHTS TO RIYADH STARTING 12TH MARCH

• INDIA GOVERNMENT: INDIGO WILL COMMENCE MUMBAI–RIYADH–MUMBAI SERVICES FROM 12TH MARCH

• INDIA GOVERNMENT: SPICEJET HAS BEEN FACILITATED TO OBTAIN ALTERNATE AIRPORT APPROVALS TO ENSURE CONTINUED OPERATIONAL SAFETY AND FLEXIBILITY IN THE REGION

• INDIA GOVERNMENT: AKASA AIR ADVISED TO ALIGN ITS PLANNED COMMENCEMENT OF MUMBAI-RIYADH-MUMBAI SERVICES SCHEDULED TO BEGIN FROM 12TH MARCH

• INDIA GOVERNMENT: AIRFARES ARE ALSO BEING CLOSELY MONITORED TO ENSURE TICKET PRICES REMAIN REASONABLE AND THAT THERE IS NO UNDUE SURGE DURING THIS PERIOD

Source: https://tinyurl.com/3dm5ezy6

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** Shares of Indian carriers IndiGo INGL.NS and SpiceJet SPJT.BO drop 7.5% and 5.6%, respectively

** Oil prices surged about 20% on Monday, hitting their highest since July 2022, as the widening U.S.-Israeli war with Iran propelled crude prices to their highest in almost four years O/R

** Brent crude futures LCOc1 rose as much as $18.35, or 19.8%, to $111.04 a barrel and were up $15.24, or 16.4%, at $107.93 as of 0014 GMT on Monday

** Higher crude prices impact airlines as it is the key component of jet fuel

** YTD, INGL down about 13% vs SPJT's 53% slump

(Reporting by Yagnoseni Das in Bengaluru)

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March 5 (Reuters) - SpiceJet Ltd SPJT.BO:

• TO OPERATE 13 SPECIAL FLIGHTS FROM UAE ON MARCH 5 TO BRING STRANDED INDIANS HOME

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March 4 (Reuters) - Spicejet Ltd SPJT.BO:

• SPICEJET LTD - CANCELS 28 FLIGHTS BETWEEN INDIA AND UAE DUE TO AIRSPACE RESTRICTIONS

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March 3 (Reuters) - Spicejet Ltd SPJT.BO:

• SPICEJET - TO OPERATE FOUR SPECIAL FLIGHTS FROM UAE ON MARCH 3 TO BRING STRANDED INDIANS HOME

• SPICEJET - TO ALSO RESTORE SCHEDULED FLIGHTS BETWEEN FUJAIRAH-DELHI AND FUJAIRAH-MUMBAI STARTING MARCH 4

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Updates

** Shares of Indian carriers IndiGo INGL.NS and SpiceJet SPJT.BO drop 4.3% and 5.4%, respectively

** Middle East conflict pushes crude prices higher, with Brent crude futures climbing to about $82.40 a barrel, their highest in 14 months O/R

** Higher crude prices impact airlines as it is the key component of jet fuel

** Moreover, Jefferies highlights ongoing conflict to hit travel demand, with Middle East accounting for 35-40% of INGL's international capacity and 10-12% of total capacity

** YTD, INGL down 8.7% vs SPJT's 48.8% slump

(Reporting by Kashish Tandon in Bengaluru)

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Feb 27 (Reuters) - Spicejet Ltd SPJT.BO:

• SPICEJET - ASSURE ALL STAKEHOLDERS THAT SUPREME COURT ORDER HAS NO IMPACT ON DAY-TO-DAY OPERATIONS

• SPICEJET - COMPANY IS EXAMINING THE ORDER AND WILL COMPLY WITH ALL COURT DIRECTIONS

• SPICEJET: CONFIDENT OF RECEIVING POTENTIAL REFUND OF 4.49 BLN RUPEES AFTER LEGAL PROCESS

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** SpiceJet SPJT.BO slips 10% to hit lower limit of exchange-mandated trading band of 12.88 rupees

** Stock set to fall for seventh straight session, losing over a quarter of its value during the spree

** SPJT dropped 9.7% on Tuesday after its Delhi-Leh flight returned to Delhi on experiencing technical issue

** According to a source quoted by PTI, flight returned due to engine issue

** Trading vols at record high of 189.7 mln shares, more than 16x the 30-day average

** RSI drops to 7.3, suggesting stock might be oversold, per data compiled by LSEG

** SPJT down 56.7% YTD

(Reporting by Vijay Malkar)

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** Shares of SpiceJet SPJT.BO fall as much as 8.5% to 14.51 rupees, the lowest level since December 2014

** Stock last down 7.6%, set to fall for sixth straight session

** The airline's spokesperson said the flight operating from Delhi to Leh on February 24 returned to Delhi after experiencing a technical issue

** The Boeing 737 flight carrying 150 passengers returned to Delhi due to an engine issue, news agency PTI reported, citing a source

** Trading vols at 15.8 million shares so far, 1.4x the 30-day average

** SPJT's RSI falls to 8.9, suggesting the stock might be oversold - according to data compiled by LSEG

** SPJT fell ~51% YTD vs 46.3% drop in 2025

(Reporting by Vijay Malkar)

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Feb 19 (Reuters) - SpiceJet Ltd SPJT.BO:

• RECEIVES MOU FOR 10 AIRCRAFT; CAPACITY SET TO MORE THAN DOUBLE THIS YEAR

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** Shares of SpiceJet SPJT.BO down 2.7% to 19.87 rupees, set to fall for third straight session

** Airline posts loss of 2.69 bln rupees ($29.7 mln) in Q3 vs profit of 249.7 mln rupees year ago

** Q3 total revenue up 12.4% Y/Y at 13.84 bln rupees

** SPJT fell 46% in 2025

($1 = 90.7370 Indian rupees)

(Reporting by Vijay Malkar)

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Feb 12 (Reuters) - Spicejet Ltd SPJT.BO:

• SPICEJET Q3 LOSS 2.69 BILLION RUPEES

• SPICEJET Q3 TOTAL REVENUE FROM OPERATIONS 13.84 BILLION RUPEES

• SPICEJET LTD ONE-TIME CHARGE OF 185.62 MILLION RUPEES IN Q3 DUE TO NEW LABOUR CODES

Source text: ID:nnAZN4SGDQA

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By Aditya Kalra

NEW DELHI, Jan 7 (Reuters) - India's government has asked IndiGo INGL.NS, Air India, SpiceJet SPJT.BO and Akasa to provide data on average fares charged, a document shows, as antitrust authorities investigate unprecedented travel disruptions in December.

Pilot shortages at IndiGo INGL.NS, which dominates India's aviation market with a 65% share, forced it to cancel about 4,500 flights last month, stranding thousands of passengers and disrupting air travel nationwide.

Fares of certain airlines surged during the crisis, prompting the government to impose temporary caps.

India's competition regulator, the CCI in December said it was proceeding against IndiGo to assess whether it had abused its market position. IndiGo has not commented on the case.

REQUEST IS FOR AVERAGE FARES DECEMBER 1-15

India's Directorate General of Civil Aviation, which oversees safety, has written to airlines asking for average fares on each route they operated on, for economy and premium economy seats, over the period December 1-15, according to a Reuters review of a January 1 government email to IndiGo, Air India, Air India Express, SpiceJet and Akasa.

The CCI and the civil aviation authority did not respond to Reuters queries on the private email. Akasa declined to comment, while other airlines did not respond.

A government source, asking not to be named because they were not authorised to speak publicly, said the details have been sought at the request of the CCI as they could help it to assess airfare patterns across airlines during the disruptions.

The government email also asked airlines to provide "fare data on affected routes" during the disruptions, the email said.

There is no indication the case is being broadened to scrutinise other airlines.

One complaint being reviewed by the CCI accuses IndiGo of cancelling flights and then offering seats at much higher prices, amounting to abuse of its dominant market position, Reuters has previously reported.

(Reporting by Aditya Kalra; editing by Barbara Lewis)

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** Shares of Indian airline SpiceJet SPJT.BO rise 2% to 30 rupees

** Budget carrier's market share improved month-on-month to 3.7% in November vs 2.6% in October, official data shows

** Bigger rival IndiGo's INGL.NS market share fell m/m to 63.6% in November vs 65.6% in October

** On the day, INGL shares down 1.5% to 5,008 rupees

** On average, SPJT shares rated "hold" while INGL rated "buy" - LSEG data

** YTD, SPJT stock has shed 45% while INGL has risen 10%

(Reporting by Hritam Mukherjee in Bengaluru)

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Nov 12 (Reuters) - Spicejet Ltd SPJT.BO:

• Q2 LOSS 6.34 BILLION RUPEES

• Q2 TOTAL REVENUE FROM OPERATIONS 7.81 BILLION RUPEES

Source text: ID:nBSE4dBZJY

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** Shares of SpiceJet SPJT.BO rise as much as 6.28% to 40.59 rupees, its highest since July 24

** Airline says it will operate 250 daily flights this winter, which is double its summer schedule

** Stock rated "hold" on average by 4 analysts; median PT at 39 rupees - data compiled LSEG

** Rival IndiGo's parent Interglobe Aviation INGL.NS rated as "buy" on average by 22 analysts; median PT at 6,575 rupees - data compiled by LSEG

**YTD, SPJT down nearly 29% vs INGL's nearly 29% rise

(Reporting by Mridula Kumar)

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By Abhijith Ganapavaram

NEW DELHI, Oct 1 (Reuters) - India's aviation regulator has proposed removing the mandate that airlines can only take planes on lease with crew in emergencies, draft regulations show, in a move that could make it easier for carriers to tide over any aircraft shortages.

The proposed rules could help airlines like India's biggest carrier IndiGo INGL.NS which has taken two planes with crew on so-called wet lease from Turkish Airlines, allowing it to offer connectivity with flights to Europe and the United States.

The partnership has irked rival Air India, which unsuccessfully lobbied the Indian government to block it, arguing it gives more air traffic to Turkey and hurts India's aviation sector.

The Directorate General of Civil Aviation (DGCA) regulations had permitted airlines to enter such leases only in emergency situations, such as unexpected grounding of aircraft.

The new draft proposal replaces the word "only" with "normally", making processing of such requests potentially easier, lawyers said.

"This added flexibility could play a crucial role in easing capacity constraints, especially in light of the limited availability of larger aircraft," said Lovejeet Singh, a partner at law firm Chandhiok & Mahajan and specialist in aviation laws.

The proposal was posted on DGCA's website earlier this week but has not previously been reported. It is open for public consultations until October 28.

The DGCA and IndiGo did not respond to Reuters queries on the planned changes in regulations.

IndiGo's Turkish partnership has faced criticism in India in recent months after Turkey came out in support of Pakistan during the recent India-Pakistan conflict.

While India's government first said it wouldn't extend that lease, it changed course in August without giving a reason to let IndiGo continue.

The current DGCA regulations mandate airlines to only lease aircraft from countries where the average industry safety score is above 80%, but the new draft rules said the watchdog can exempt that requirement on a one-time basis.

(Reporting by Abhijith Ganapavaram; Editing by Aditya Kalra; Editing by Ros Russell)

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Sept 11 (Reuters) - Spicejet Ltd SPJT.BO:

• SPICEJET - AGREEMENT SIGNIFICANTLY ENHANCES AIRLINE’S LIQUIDITY, SUPPORTS RESTRUCTURING EFFORTS

• SPICEJET - AGREEMENT UNLOCKS $79.6 MILLION IN CASH MAINTENANCE RESERVES & $9.9 MILLION IN CREDITS

• SPICEJET - SECURES $89.5 MILLION IN LIQUIDITY BOOST THROUGH CARLYLE SETTLEMENT

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