SpiceJet
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** IndiGo's INGL.NS shares slip 0.5% to 5,091 rupees ahead of Q1 results
** Analysts expect the airline to post 18.2% Y/Y rise in quarterly revenue, with net income dropping 49.2%, according to data compiled by LSEG
** Elara Capital forecasts domestic aviation traffic to decline 2% Y/Y in Q1 FY27 from 4% growth a year earlier, weighed by a shrinking fleets at Tata Group carriers and SpiceJet, and IndiGo phasing out older short-term leased planes
** Brokerage remains positive on IndiGo as India's aviation demand cycle remains intact, competitive supply stays constrained, and IndiGo is expected to retain the benefit of recent airfare hikes
** Focus should gradually shift from crude oil to the durability of airfare strength - Elara Capital
** 20 of 24 brokerages rate the stock "buy" or higher; median PT is 5,675 rupees
** YTD, stock up 0.9%
(Reporting by Abhinav Parmar in Bengaluru)
(([email protected];))
** IndiGo's INGL.NS shares slip 0.5% to 5,091 rupees ahead of Q1 results
** Analysts expect the airline to post 18.2% Y/Y rise in quarterly revenue, with net income dropping 49.2%, according to data compiled by LSEG
** Elara Capital forecasts domestic aviation traffic to decline 2% Y/Y in Q1 FY27 from 4% growth a year earlier, weighed by a shrinking fleets at Tata Group carriers and SpiceJet, and IndiGo phasing out older short-term leased planes
** Brokerage remains positive on IndiGo as India's aviation demand cycle remains intact, competitive supply stays constrained, and IndiGo is expected to retain the benefit of recent airfare hikes
** Focus should gradually shift from crude oil to the durability of airfare strength - Elara Capital
** 20 of 24 brokerages rate the stock "buy" or higher; median PT is 5,675 rupees
** YTD, stock up 0.9%
(Reporting by Abhinav Parmar in Bengaluru)
(([email protected];))
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
Further company coverage: SPJT.BO
(([email protected];;))
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
Further company coverage: SPJT.BO
(([email protected];;))
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)
(([email protected]; +91 9558725583;))
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)
(([email protected]; +91 9558725583;))
July 13 (Reuters) - Two Irish lessors have sought the deregistration of four Boeing BA.N 737 MAX aircraft leased to Indian airline SpiceJet SPJT.BO, according to a document released by the Indian aviation regulator on Monday.
SpiceJet did not immediately respond to a Reuters' request for comment.
(Reporting by Abhijith G in Delhi, Writing by Urvi Dugar in Bengaluru)
(([email protected]; +91 9558725583;))
July 13 (Reuters) - Two Irish lessors have sought the deregistration of four Boeing BA.N 737 MAX aircraft leased to Indian airline SpiceJet SPJT.BO, according to a document released by the Indian aviation regulator on Monday.
SpiceJet did not immediately respond to a Reuters' request for comment.
(Reporting by Abhijith G in Delhi, Writing by Urvi Dugar in Bengaluru)
(([email protected]; +91 9558725583;))
SpiceJet says it is disbursing employee pay in phases as it works to return to normalcy
Airline says it is seeking funding under India credit guarantee scheme
Pilot says he is borrowing from others to meet expenses
At least two aircraft lessors have served default notices to SpiceJet this year, source says
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)
SpiceJet shares trail the benchmark BSE Sensex index https://reut.rs/4fZXnMa
SpiceJet has mostly lost money since 2019 https://reut.rs/4uiosh9
(Reporting by Abhijith Ganapavaram; Editing by Aditya Kalra and Jamie Freed)
((Email: [email protected]; Mobile: +91-9019785574;))
SpiceJet says it is disbursing employee pay in phases as it works to return to normalcy
Airline says it is seeking funding under India credit guarantee scheme
Pilot says he is borrowing from others to meet expenses
At least two aircraft lessors have served default notices to SpiceJet this year, source says
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)
SpiceJet shares trail the benchmark BSE Sensex index https://reut.rs/4fZXnMa
SpiceJet has mostly lost money since 2019 https://reut.rs/4uiosh9
(Reporting by Abhijith Ganapavaram; Editing by Aditya Kalra and Jamie Freed)
((Email: [email protected]; Mobile: +91-9019785574;))
** 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)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
** 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)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
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:]
Further company coverage: SPJT.BO
(([email protected];))
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:]
Further company coverage: SPJT.BO
(([email protected];))
Indian airlines face revenue loss due to Dubai's flight curbs
Airlines group urges reciprocal measures
India was Dubai International Airport's top passenger source last year
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.
ANALYSIS-Iran war deals double blow to Indian airlines already hit by Pakistan airspace ban https://www.reuters.com/world/india/iran-war-deals-double-blow-indian-airlines-already-hit-by-pakistan-airspace-ban-2026-03-10/
Air India Express, Air India, IndiGo had big flight plans for Dubai https://reut.rs/4ebgSjY
(Reporting by Abhijith Ganapavaram and Aditya Kalra; Editing by Jamie Freed)
((Email: [email protected]; Mobile: +91-9019785574;))
Indian airlines face revenue loss due to Dubai's flight curbs
Airlines group urges reciprocal measures
India was Dubai International Airport's top passenger source last year
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.
ANALYSIS-Iran war deals double blow to Indian airlines already hit by Pakistan airspace ban https://www.reuters.com/world/india/iran-war-deals-double-blow-indian-airlines-already-hit-by-pakistan-airspace-ban-2026-03-10/
Air India Express, Air India, IndiGo had big flight plans for Dubai https://reut.rs/4ebgSjY
(Reporting by Abhijith Ganapavaram and Aditya Kalra; Editing by Jamie Freed)
((Email: [email protected]; Mobile: +91-9019785574;))
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)
((Email: [email protected]; Mobile: +91-9019785574;))
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)
((Email: [email protected]; Mobile: +91-9019785574;))
Middle East war disrupts operations for Indian carriers
Fare cap causing financial strain amid rising costs, FIA warns
FIA urges withdrawal of rule requiring 60% seats without extra charge
Airlines may cut routes or defer expansion, federation warns
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)
((Email: [email protected]; Mobile: +91-9019785574;))
Middle East war disrupts operations for Indian carriers
Fare cap causing financial strain amid rising costs, FIA warns
FIA urges withdrawal of rule requiring 60% seats without extra charge
Airlines may cut routes or defer expansion, federation warns
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)
((Email: [email protected]; Mobile: +91-9019785574;))
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
(([email protected];))
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
(([email protected];))
** 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)
(([email protected];))
** 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)
(([email protected];))
March 5 (Reuters) - SpiceJet Ltd SPJT.BO:
TO OPERATE 13 SPECIAL FLIGHTS FROM UAE ON MARCH 5 TO BRING STRANDED INDIANS HOME
Further company coverage: SPJT.BO
(([email protected];;))
March 5 (Reuters) - SpiceJet Ltd SPJT.BO:
TO OPERATE 13 SPECIAL FLIGHTS FROM UAE ON MARCH 5 TO BRING STRANDED INDIANS HOME
Further company coverage: SPJT.BO
(([email protected];;))
March 4 (Reuters) - Spicejet Ltd SPJT.BO:
SPICEJET LTD - CANCELS 28 FLIGHTS BETWEEN INDIA AND UAE DUE TO AIRSPACE RESTRICTIONS
Further company coverage: SPJT.BO
(([email protected];))
March 4 (Reuters) - Spicejet Ltd SPJT.BO:
SPICEJET LTD - CANCELS 28 FLIGHTS BETWEEN INDIA AND UAE DUE TO AIRSPACE RESTRICTIONS
Further company coverage: SPJT.BO
(([email protected];))
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
Further company coverage: SPJT.BO
(([email protected];))
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
Further company coverage: SPJT.BO
(([email protected];))
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)
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)
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
Further company coverage: SPJT.BO
(([email protected];))
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
Further company coverage: SPJT.BO
(([email protected];))
** 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)
(([email protected];))
** 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)
(([email protected];))
Feb 24 (Reuters) - Spicejet Ltd SPJT.BO:
SPICEJET FLIGHT OPERATING FROM DELHI TO LEH ON FEB 24 RETURNED TO DELHI AFTER EXPERIENCING A TECHNICAL ISSUE - SPOKESPERSON
SPICEJET AIRCRAFT LANDED SAFELY IN DELHI, THERE WAS NO FIRE WARNING IN THE COCKPIT- SPOKESPERSON
Source text: [ID:]
Further company coverage: SPJT.BO
(([email protected];;))
Feb 24 (Reuters) - Spicejet Ltd SPJT.BO:
SPICEJET FLIGHT OPERATING FROM DELHI TO LEH ON FEB 24 RETURNED TO DELHI AFTER EXPERIENCING A TECHNICAL ISSUE - SPOKESPERSON
SPICEJET AIRCRAFT LANDED SAFELY IN DELHI, THERE WAS NO FIRE WARNING IN THE COCKPIT- SPOKESPERSON
Source text: [ID:]
Further company coverage: SPJT.BO
(([email protected];;))
Feb 19 (Reuters) - SpiceJet Ltd SPJT.BO:
RECEIVES MOU FOR 10 AIRCRAFT; CAPACITY SET TO MORE THAN DOUBLE THIS YEAR
Further company coverage: SPJT.BO
(([email protected];;))
Feb 19 (Reuters) - SpiceJet Ltd SPJT.BO:
RECEIVES MOU FOR 10 AIRCRAFT; CAPACITY SET TO MORE THAN DOUBLE THIS YEAR
Further company coverage: SPJT.BO
(([email protected];;))
** 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)
(([email protected];))
** 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)
(([email protected];))
Airline association FIA warns rules could disrupt schedules
Draft rules exceed global norms, reduce competitiveness, FIA says
FIA seeks phased introduction, cites global standards
India regulator working to boost safety
By Abhijith Ganapavaram and Aditya Kalra
NEW DELHI, Feb 12 (Reuters) - A group representing India's top airlines IndiGo INGL.NS and Air India has asked the government to dilute proposed fatigue management rules for cabin crew, warning they could disrupt flight schedules and limit growth prospects, a letter shows.
The pushback from the Federation of Indian Airlines (FIA) on a key Indian government proposal comes after IndiGo, the country's largest airline, cancelled about 4,500 flights in December due to poor planning for new fatigue management rules for pilots.
The cabin crew rules proposed in October call for boosting minimum weekly rest to 48 hours from 36 hours presently and expanding work limitations for night operations.
They also call for flight attendants to each get their own hotel room on layovers to improve rest quality. That is not a requirement under international aviation rules, but in practice it is common among airlines outside India despite being more costly.
In its letter, which is not public, FIA argued that mandating single-room occupancy could create constraints at several domestic and international airports due to limited hotel inventory and result in crew being accommodated at distant or sub-optimal locations.
The proposed rules say they aim to "enhance safety of operations". Pilot mental health was in sharp focus after the Air India crash last June that killed 260 people, though the cause has yet to be determined.
But FIA argued the fatigue rules would "severely" limit long-term growth expansion and reduce the competitiveness of Indian airlines in the global market.
The letter was sent to India's Directorate General of Civil Aviation. The regulator and FIA, which also represents India's fourth-largest carrier SpiceJet SPJT.BO, did not respond to Reuters' queries.
There is no fixed timeline for implementation for the rules. IndiGo, Air India and SpiceJet also did not respond.
INDIAN NORMS VS GLOBAL
India's government said this month the aviation minister chaired a meeting with aviation officials where discussions centred around assessing safety at airfields, as well as strengthening regulatory oversight frameworks across the country.
The cumulative effect of the draft provisions on cabin crew fatigue management could complicate crew scheduling and reduce roster predictability, the FIA's letter said.
The rules go beyond global norms for managing cabin crew fatigue, it argued, such as classifying ultra-long-haul flights as those over 14 hours rather than 16 hours.
FIA's lobbying effort comes as Air India, the country's second-largest airline, is facing financial losses from an airspace ban imposed by Pakistan and a deadly crash and IndiGo is dealing with regulatory scrutiny due to the cancellations.
The FIA is lobbying the regulator to relax some of the rules, including reworking stricter night provisions such as landing caps to follow fatigue science and to introduce the new norms in a phased manner.
(Reporting by Abhijith Ganapavaram and Aditya Kalra; Editing by Jamie Freed)
((Email: [email protected]; Mobile: +91-9019785574;))
Airline association FIA warns rules could disrupt schedules
Draft rules exceed global norms, reduce competitiveness, FIA says
FIA seeks phased introduction, cites global standards
India regulator working to boost safety
By Abhijith Ganapavaram and Aditya Kalra
NEW DELHI, Feb 12 (Reuters) - A group representing India's top airlines IndiGo INGL.NS and Air India has asked the government to dilute proposed fatigue management rules for cabin crew, warning they could disrupt flight schedules and limit growth prospects, a letter shows.
The pushback from the Federation of Indian Airlines (FIA) on a key Indian government proposal comes after IndiGo, the country's largest airline, cancelled about 4,500 flights in December due to poor planning for new fatigue management rules for pilots.
The cabin crew rules proposed in October call for boosting minimum weekly rest to 48 hours from 36 hours presently and expanding work limitations for night operations.
They also call for flight attendants to each get their own hotel room on layovers to improve rest quality. That is not a requirement under international aviation rules, but in practice it is common among airlines outside India despite being more costly.
In its letter, which is not public, FIA argued that mandating single-room occupancy could create constraints at several domestic and international airports due to limited hotel inventory and result in crew being accommodated at distant or sub-optimal locations.
The proposed rules say they aim to "enhance safety of operations". Pilot mental health was in sharp focus after the Air India crash last June that killed 260 people, though the cause has yet to be determined.
But FIA argued the fatigue rules would "severely" limit long-term growth expansion and reduce the competitiveness of Indian airlines in the global market.
The letter was sent to India's Directorate General of Civil Aviation. The regulator and FIA, which also represents India's fourth-largest carrier SpiceJet SPJT.BO, did not respond to Reuters' queries.
There is no fixed timeline for implementation for the rules. IndiGo, Air India and SpiceJet also did not respond.
INDIAN NORMS VS GLOBAL
India's government said this month the aviation minister chaired a meeting with aviation officials where discussions centred around assessing safety at airfields, as well as strengthening regulatory oversight frameworks across the country.
The cumulative effect of the draft provisions on cabin crew fatigue management could complicate crew scheduling and reduce roster predictability, the FIA's letter said.
The rules go beyond global norms for managing cabin crew fatigue, it argued, such as classifying ultra-long-haul flights as those over 14 hours rather than 16 hours.
FIA's lobbying effort comes as Air India, the country's second-largest airline, is facing financial losses from an airspace ban imposed by Pakistan and a deadly crash and IndiGo is dealing with regulatory scrutiny due to the cancellations.
The FIA is lobbying the regulator to relax some of the rules, including reworking stricter night provisions such as landing caps to follow fatigue science and to introduce the new norms in a phased manner.
(Reporting by Abhijith Ganapavaram and Aditya Kalra; Editing by Jamie Freed)
((Email: [email protected]; Mobile: +91-9019785574;))
IndiGo crisis in December disrupted air travel, led to fare hikes
India seeks data to assess fare patterns, source says
Asks airlines to provide average fares for all routes
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)
((Email: [email protected]; X: @adityakalra;))
IndiGo crisis in December disrupted air travel, led to fare hikes
India seeks data to assess fare patterns, source says
Asks airlines to provide average fares for all routes
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)
((Email: [email protected]; X: @adityakalra;))
** 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)
(([email protected];))
** 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)
(([email protected];))
Nov 12 (Reuters) - Cash-strapped Indian carrier SpiceJet SPJT.BO posted a wider quarterly loss on Wednesday, hurt by a drop in its passenger traffic and mounting foreign exchange losses.
The company's loss stood at 6.34 billion rupees for the quarter ended September 30, compared with a loss of 4.42 billion rupees a year ago.
(Reporting by Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee )
(([email protected]; 8800437922;))
Nov 12 (Reuters) - Cash-strapped Indian carrier SpiceJet SPJT.BO posted a wider quarterly loss on Wednesday, hurt by a drop in its passenger traffic and mounting foreign exchange losses.
The company's loss stood at 6.34 billion rupees for the quarter ended September 30, compared with a loss of 4.42 billion rupees a year ago.
(Reporting by Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee )
(([email protected]; 8800437922;))
** 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)
** 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)
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)
((Email: [email protected]; Mobile: +91-9019785574;))
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)
((Email: [email protected]; Mobile: +91-9019785574;))
** Shares of SpiceJet SPJT.BO rise 3.4% to 34.13 rupees
** Low-cost carrier secures $89.5 million settlement from commercial aviation investment and servicing unit of Carlyle CG.O
** Under the deal, Carlyle will restructure $121.2 million in lease dues in exchange for $50 million in SPJT shares, with any extra proceeds from share sales used to reduce future lease obligations
** Significantly enhances airline's liquidity - SPJT
** Earlier, stock surges from rise of 1.5% to 5% on news
** Last year, SPJT said it will convert about $97 million dues to Carlyle Aviation into equity, debentures
** Stock down about 39% YTD
(Reporting by Urvi Dugar)
** Shares of SpiceJet SPJT.BO rise 3.4% to 34.13 rupees
** Low-cost carrier secures $89.5 million settlement from commercial aviation investment and servicing unit of Carlyle CG.O
** Under the deal, Carlyle will restructure $121.2 million in lease dues in exchange for $50 million in SPJT shares, with any extra proceeds from share sales used to reduce future lease obligations
** Significantly enhances airline's liquidity - SPJT
** Earlier, stock surges from rise of 1.5% to 5% on news
** Last year, SPJT said it will convert about $97 million dues to Carlyle Aviation into equity, debentures
** Stock down about 39% YTD
(Reporting by Urvi Dugar)
Adds details of results from paragraph 5, background throughout
Sept 5 (Reuters) - Indian budget airline SpiceJet SPJT.BO posted its second consecutive loss in the June quarter, as leisure travel demand on some routes slumped during the worst India-Pakistan fighting in decades.
The troubled airline reported a loss of 2.35 billion rupees ($26.6 million) in the April-June period, compared to a profit of 1.5 billion rupees a year before.
Ties between India and Pakistan worsened after an April attack in Kashmir that New Delhi blamed on Islamabad, prompting airport closures in northwest India and a shutdown of Pakistani airspace to Indian carriers. Pakistan has denied any involvement.
Quarterly revenue fell about 35% to 11.06 billion rupees.
SpiceJet also said a delay in returning its grounded aircraft to service added to its woes.
The carrier has signed multiple settlement agreements in recent years to resolve disputes with lessors and others but has still struggled to expand capacity.
As of March-end, it had only 25 operational aircraft, fewer than half of its 61-jet fleet.
The limited scale has allowed Akasa, one of India's youngest airlines, to overtake SpiceJet as the country's No. 3 carrier by market share, with 5.5% versus SpiceJet's 2% in the world's third-largest aviation market.
SpiceJet's net worth improved to positive 4.46 billion rupees in the first-quarter, compared to negative 23.98 billion rupees in the year-ago period, it said.
($1 = 88.2591 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Janane Venkatraman and Nivedita Bhattacharjee)
(([email protected]; Mobile: +91 9591011727;))
Adds details of results from paragraph 5, background throughout
Sept 5 (Reuters) - Indian budget airline SpiceJet SPJT.BO posted its second consecutive loss in the June quarter, as leisure travel demand on some routes slumped during the worst India-Pakistan fighting in decades.
The troubled airline reported a loss of 2.35 billion rupees ($26.6 million) in the April-June period, compared to a profit of 1.5 billion rupees a year before.
Ties between India and Pakistan worsened after an April attack in Kashmir that New Delhi blamed on Islamabad, prompting airport closures in northwest India and a shutdown of Pakistani airspace to Indian carriers. Pakistan has denied any involvement.
Quarterly revenue fell about 35% to 11.06 billion rupees.
SpiceJet also said a delay in returning its grounded aircraft to service added to its woes.
The carrier has signed multiple settlement agreements in recent years to resolve disputes with lessors and others but has still struggled to expand capacity.
As of March-end, it had only 25 operational aircraft, fewer than half of its 61-jet fleet.
The limited scale has allowed Akasa, one of India's youngest airlines, to overtake SpiceJet as the country's No. 3 carrier by market share, with 5.5% versus SpiceJet's 2% in the world's third-largest aviation market.
SpiceJet's net worth improved to positive 4.46 billion rupees in the first-quarter, compared to negative 23.98 billion rupees in the year-ago period, it said.
($1 = 88.2591 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Janane Venkatraman and Nivedita Bhattacharjee)
(([email protected]; Mobile: +91 9591011727;))
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Popular questions
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What does SpiceJet do?
SpiceJet, India’s second-largest airline, focuses on enhancing regional connectivity and accessibility to air travel. Through adding destinations, expanding fleet, and prioritizing customer service, SpiceJet aims to make flying enjoyable for all.
Who are the competitors of SpiceJet?
SpiceJet major competitors are Global Vectra Helico, Interglobe Aviation. Market Cap of SpiceJet is ₹1,749 Crs. While the median market cap of its peers are ₹1,01,262 Crs.
Is SpiceJet financially stable compared to its competitors?
SpiceJet seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does SpiceJet pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. SpiceJet latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%
How has SpiceJet allocated its funds?
Companies resources are majorly tied in miscellaneous assets
How strong is SpiceJet balance sheet?
SpiceJet balance sheet is weak and might have solvency issues
Is the profitablity of SpiceJet improving?
The profit is oscillating. The profit of SpiceJet is -₹775.46 Crs for TTM, ₹62.77 Crs for Mar 2025 and -₹422.83 Crs for Mar 2024.
Is the debt of SpiceJet increasing or decreasing?
Yes, The net debt of SpiceJet is increasing. Latest net debt of SpiceJet is ₹582 Crs as of Sep-25. This is greater than Mar-25 when it was ₹369 Crs.
Is SpiceJet stock expensive?
SpiceJet is not expensive. Latest PE of SpiceJet is 0, while 3 year average PE is 4.83. Also latest EV/EBITDA of SpiceJet is 0.0 while 3yr average is 0.02.
Has the share price of SpiceJet grown faster than its competition?
SpiceJet has given lower returns compared to its competitors. SpiceJet has grown at ~-16.99% over the last 10yrs while peers have grown at a median rate of 13.0%
Is the promoter bullish about SpiceJet?
Promoters seem not to be bullish about the company and have been selling shares in the open market. Latest quarter promoter holding in SpiceJet is 24.19% and last quarter promoter holding is 30.99%
Are mutual funds buying/selling SpiceJet?
The mutual fund holding of SpiceJet is decreasing. The current mutual fund holding in SpiceJet is 0.99% while previous quarter holding is 1.65%.