SpiceJet Completes Major Restructuring, Removes US $50 Million in Liabilities

SpiceJet today announced the completion of its equity share allotment to Carlyle Aviation Partners, marking a key milestone in a major restructuring initiative aimed at strengthening the airline's balance sheet and long-term financial stability. This follows the settlement announcement made on September 11, 2025.

The Allotment Committee of the Board of Directors, in its meeting held on November 18, 2025, approved the issuance of 10,41,72,634 equity shares of face value INR 10 each at an issue price of INR 42.32 per share (including a premium of INR 32.32) on a preferential basis under the non-promoter category.

This step results in the removal of INR 442.25 crore (US $50 million) of liabilities from SpiceJet's balance sheet.

As part of the settlement framework, the agreement incorporates a mechanism under which, should the lessor realize proceeds exceeding US $50 million from the sale of the issued shares, a portion of the surplus will be applied towards reducing future lease obligations of the airline.

Additionally, the agreement entitles SpiceJet to US $79.6 million in cash maintenance reserves for future aircraft and engine maintenance, along with US $9.9 million in cash maintenance credits to offset lease obligations.

Ajay Singh, Chairman and Managing Director, SpiceJet, said, "This is an important milestone in our ongoing restructuring efforts and reflects our commitment to building a stronger and financially resilient SpiceJet. The removal of liabilities, combined with access to substantial maintenance reserves and credits, provides us with meaningful support as we continue to revive our fleet and expand operations. We appreciate the cooperation of Carlyle Aviation Partners throughout this process. Several other restructuring initiatives are underway, and we are hopeful of closing them soon as we continue building a stronger, more resilient airline for our customers, partners, and shareholders."

Shares of SPICEJET LTD was last trading in BSE at Rs. 36.83 as compared to the previous close of Rs. 36.73. The total number of shares traded during the day was 11362909 in over 19102 trades.

The stock hit an intraday high of Rs. 37.70 and intraday low of 36.26. The net turnover during the day was Rs. 420775937.00.

Source : Equity Bulls

Keywords

SPICEJET INE285B01017 Airlines SharesAllotment CarlyleAviationPartners