This initiative will significantly increase the current fleet size of 28 aircraft, even as some aircraft are redelivered to lessors during the same period. SpiceJet has added 10 planes to its fleet since October 2024, comprising three previously grounded aircraft brought back into service and seven inducted on lease. Over the past three months, the company's network expansion strategy has resulted in the addition of more than 60 new flights, further enhancing its overall connectivity. Ajay Singh, chairman and managing director, SpiceJet, said: 'Our plan to bring 10 aircraft back into service by mid‐April is a reflection of SpiceJet's unwavering commitment to its growth and operational excellence. SpiceJet is on a strong path to recovery and growth, and we remain focused on providing reliable and affordable air travel to millions of Indians. SpiceJet is a low-budget air carrier. The airline operates a fleet of Boeing 737s, Q-400s, & freighters and is the country's largest regional player operating multiple daily flights under UDAN, or the Regional Connectivity Scheme. The airline also operates a dedicated air cargo service under the brand name SpiceXpress, offering cargo connectivity across India and on international routes. The scrip had tumbled 5.70% to end at Rs 49.66 on the BSE on Friday. Powered by Capital Market - Live

SpiceJet will unground 10 aircraft by mid']April 2025 further strengthening its network and operational capabilities. These will include four Boeing 737 MAX planes.   This initiative will significantly increase the current fleet size of 28 aircraft, even as some aircraft are redelivered to lessors during the same period. SpiceJet added 10 planes to its fleet since October 2024, comprising three previously grounded aircraft brought back into service and seven inducted on lease. Over the past three months, SpiceJet'fs network expansion strategy has resulted in the addition of more than 60 new flights, further enhancing connectivity and service options for its passengersPowered by Capital Market - Live

SpiceJet has entered into a services agreement with StandardAero Inc., a leading U.S.-based engine MRO (maintenance, repair and overhaul) provider and a 'Premier MRO' provider for CFM LEAP-1B engines. This collaboration will enable the restoration of SpiceJet's grounded Boeing 737-8 MAX fleet. The agreement follows successful arrangements with CFM International, Inc., the OEM for LEAP-1B engines, and the lessor for the 737 MAX aircraft. These developments pave the way for the un-grounding and return to service of three Boeing 737 MAX aircraft by April 2025. This initiative is a key part of SpiceJet's strategic efforts to restore its fleet, enhance operational capabilities, and support its rapid expansion plans. As part of the global deal, CFM International will provide material and support services for these LEAP-1B engines for restoration of the engines, underscoring its collaborative partnership with the airline. This collaboration and restructuring aligns with SpiceJet's robust fleet restoration strategy, which has seen rapid progress. In the past two months, SpiceJet has resolved disputes with multiple prominent lessors, including Export Development Canada, Engine Lease Finance Corporation, Babcock & Brown Aircraft Management, Aircastle (Ireland), Wilmington Trust SP Services (Dublin) Limited, Shannon Engine Support Limited and Genesis.Powered by Capital Market - Live

Under the agreement, SpiceJet will pay Genesis $6 million, and Genesis will acquire $4 million in SpiceJet equity at a price of Rs 100 per share. The agreement will also result in a significant saving for the airline as it navigates a robust path toward long-term growth. The settlement with Genesis underscores SpiceJet's continued commitment to restoring financial stability, achieving operational resilience, and reducing legal liabilities. Subject to the settlement terms being satisfied, both parties have agreed to withdraw all ongoing litigation and disputes related to this matter at the appropriate forums. This settlement follows a series of successful resolutions with other lessors, including Horizon Aviation, Engine Lease Finance Corporation, Aircastle, Wilmington Trust SP, Shannon Engine Support, and Export Development Canada, among others. In September 2024, Carlyle Aviation agreed to convert $30 million of lease arrears into SpiceJet equity at Rs 100 per share, signalling increasing confidence from stakeholders in the airline's financial and operational recovery. The airline's recent financial progress has been recognised by Acuit' Ratings & Research Limited, which recently upgraded SpiceJet's credit rating by four notches. Ajay Singh, Chairman & MD, SpiceJet, said, 'This settlement marks another crucial step in our journey towards financial stability. We are pleased to have resolved this matter amicably with Genesis through constructive negotiations. This agreement, which includes Genesis acquiring an equity stake in SpiceJet, will significantly reduce our financial liabilities and further strengthen our balance sheet.' SpiceJet is a low-budget air carrier. The airline operates a fleet of Boeing 737s, Q-400s, & freighters and is the country's largest regional player operating multiple daily flights under UDAN, or the Regional Connectivity Scheme. The airline also operates a dedicated air cargo service under the brand name SpiceXpress, offering cargo connectivity across India and on international routes. The low-cost air carrier's standalone net profit declined 26.69% to Rs 149.96 crore on 15.3% fall in revenue from operations to Rs 1,695.52 crore in Q1 FY25 over Q1 FY24.Powered by Capital Market - Live

Over the past three months, since raising Rs 3,000 crore through a Qualified Institutional Placement (QIP), the airline has cleared all pending statutory liabilities, including Tax Deducted at Source (TDS), Goods and Services Tax (GST), and employee salary dues. With the airline now current on its statutory dues, it is poised to save significantly on interest payments. In addition to clearing its statutory obligations, the company has resolved multiple outstanding disputes with aircraft lessors and other creditors, significantly improving its balance sheet. Since October 2024, the company has been utilising its internal cash flows to meet its statutory obligations, including PF and TDS payments, reflecting the airline's improved financial health and operational discipline. Ajay Singh, chairman and managing director, SpiceJet, said, 'We are pleased to announce the clearance of all pending employee PF dues. This marks a new chapter in SpiceJet's journey. By clearing all pending statutory dues and settling disputes with lessors and creditors, we are demonstrating our unwavering commitment to operational excellence, financial prudence, and the welfare of our employees. With the successful implementation of our financial turnaround strategy, we are confident in our ability to continue delivering superior service to our customers and achieving sustainable growth.' SpiceJet is a low-budget air carrier. The airline operates a fleet of Boeing 737s, Q-400s & freighters and is the country's largest regional player operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The airline also operates a dedicated air cargo service under the brand name SpiceXpress offering cargo connectivity across India and on international routes. The low-cost air carrier's standalone net profit declined 26.69% to Rs 149.96 crore on 15.3% fall in revenue from operations to Rs 1,695.52 crore in Q1 FY25 over Q1 FY24.Powered by Capital Market - Live

SpiceJet has successfully cleared all pending employee provident fund (PF) dues amounting to Rs 160.07 crore, spanning over two years, reaffirming its commitment to employee welfare and financial accountability. Over the past three months, since raising Rs 3,000 crore through a Qualified Institutional Placement (QIP), the airline has cleared all pending statutory liabilities, including Tax Deducted at Source (TDS), Goods and Services Tax (GST), and employee salary dues. With the airline now current on its statutory dues, it is poised to save significantly on interest payments. Since October 2024, SpiceJet has been utilising its internal cash flows to meet its statutory obligations, including PF and TDS payments, reflecting the airline's improved financial health and operational discipline. Powered by Capital Market - Live

SpiceJet announced that the 40th Annual General Meeting(AGM) of the company will be held on 30 December 2024.Powered by Capital Market - Live

Last month, SpiceJet announced the resolution of a $23.39 million dispute with Aircastle (Ireland) Designated Activity Company and Wilmington Trust SP Services (Dublin). The settlement was reached for an aggregate sum of $5 million, alongside an agreement on the treatment of certain aircraft engines Both parties opted for an amicable negotiation process, successfully avoiding prolonged courtroom proceedings. As part of the settlement, all ongoing litigations and disputes between the two parties have been withdrawn from the appropriate forums. SpiceJet is a low-budget air carrier. The airline operates a fleet of Boeing 737s, Q-400s & freighters and is the country's largest regional player operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The airline also operates a dedicated air cargo service under the brand name SpiceXpress offering cargo connectivity across India and on international routes. The low-cost air carrier's standalone net profit declined 26.69% to Rs 149.96 crore on 15.3% fall in revenue from operations to Rs 1,695.52 crore in Q1 FY25 over Q1 FY24.Powered by Capital Market - Live

SpiceJet today announced that it has fully settled a $90.8 million (Rs 763 crore) dispute with Export Development Canada (EDC) for a total of $22.5 million, now paid in full by the airline. This resolution marks a significant milestone for SpiceJet, resulting in a substantial saving of $68.3 million (Rs 574 crore). The agreement represents one of the largest settlements in SpiceJet'fs history, strengthening the airline'fs fiscal position, eliminating a significant liability from its balance sheet and paving the way for sustained growth and operational efficiency. As per the terms of the agreement, SpiceJet has acquired full ownership of 13 EDC'] financed Q400 aircraft. The transfer of ownership of these 13 planes will result in a substantial reduction in operational costs, strengthening the airline'fs operational capabilities and fleet management. It also brings long']term financial benefits, relieving SpiceJet from the obligation of monthly rental payments for these aircraft and further reinforcing the airline'fs financial stability. These aircraft will also enable SpiceJet to launch additional flights on regional and UDAN routes. Starting October 27, 2024, the airline has begun operating several new routes using the Q400, including Delhi']Amritsar']Delhi, Guwahati']Patna']Guwahati, Kolkata'] Patna']Kolkata, Delhi']Patna']Delhi, and Delhi']Darbhanga']Delhi. Recently, SpiceJet also introduced services on the Shivamogga']Chennai, Shivamogga']Hyderabad, and Chennai-Kochi sectors with the same aircraft. SpiceJet plans to roll out another 18 flights in phases as more Q400 aircraft return to service. Powered by Capital Market - Live

As per the terms of the agreement, SpiceJet has acquired full ownership of 13 EDC‐ financed Q400 aircraft. The transfer of ownership of these 13 planes will result in a substantial reduction in operational costs, strengthening the airline's operational capabilities and fleet management. It also brings long‐term financial benefits, relieving SpiceJet from the obligation of monthly rental payments for these aircraft and further reinforcing the airline's financial stability. This is one of the largest settlements in SpiceJet's history, strengthening the airline's fiscal position, removing a significant liability from its balance sheet and paving the way for sustained growth and operational efficiency, the company stated in press release. The airline added that, 'These aircraft will also enable SpiceJet to launch additional flights on regional and UDAN routes. Starting 27 October 2024, the airline has begun operating several new routes using the Q400, including Delhi‐Amritsar‐Delhi, Guwahati‐Patna‐Guwahati, Kolkata‐ Patna‐Kolkata, Delhi‐Patna‐Delhi, and Delhi‐Darbhanga‐Delhi. Recently, SpiceJet also introduced services on the Shivamogga‐Chennai, Shivamogga‐Hyderabad, and Chennai‐ Kochi sectors with the same aircraft. SpiceJet plans to roll out another 18 flights in phases as more Q400 aircraft return to service.' Ajay Singh, chairman and managing director, SpiceJet said, 'We are very pleased to have paid the settlement amount in full and closed this agreement with EDC. This resolution allows us to move forward with a strengthened balance sheet and focus on getting our Q400 aircraft back into service as quickly as possible. We are excited to expand our regional operations and enhance connectivity across key routes, including those under the UDAN scheme, with our revitalised fleet.' SpiceJet is a low-budget air carrier. The airline operates a fleet of Boeing 737s, Q-400s & freighters and is the country's largest regional player operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The airline also operates a dedicated air cargo service under the brand name SpiceXpress offering cargo connectivity across India and on international routes. The low-cost air carrier's standalone net profit declined 26.69% to Rs 149.96 crore on 15.3% fall in revenue from operations to Rs 1,695.52 crore in Q1 FY25 over Q1 FY24. Powered by Capital Market - Live