SpiceJet: Now the aircraft lessor files bankruptcy petition against SpiceJet; NCLT hearing next week – Times of India

New Delhi: GoFirst is not the only airline facing serious survival issues, the case of which is currently ongoing National Company Law Tribunal (NCLT). One airplane The lessor has filed insolvency resolution proceedings against the cash crunch spicejet And this NCLT Will hear the matter next week.
The NCLT website shows that two more petitions are pending for insolvency resolution proceedings against SpiceJet. engine supplier Willis Lease Finance Corporation filed its petition on April 12 and Akers Buildwell filed its petition on February 4 against SpiceJet, which has been defaulting on statutory payments like PF to employees for several months and depositing Tax Deducted at Source (TDS). Has been
According to the tribunal’s website, Ireland-based aircraft lessor Aircastle filed the petition against SpiceJet on April 28 and the principal bench of NCLT will hear it on May 8.
Commenting on this, a SpiceJet spokesperson said, “At present, we do not have any aircraft from this lessor in our fleet. All the aircraft on this lease have already been returned by SpiceJet. This development does not impact our operations or operational fleet in any way.”
“We are confident of resolving the matter without court proceedings and we are in discussion with their senior leadership team for the same. The comments provided herein are without prejudice to our rights and in any way should not be construed as admission of liabilities.” the airline spokesperson added.
Regarding the Akers case, airline sources say that both the parties have already filed a joint application in the NCLT to settle the matter. Sources say that the Willis case is yet to be accepted by the NCLT and no notice has been issued to SpiceJet so far. Sources claim that the airline does not currently have any Willis engines and all were returned about a year ago.
SpiceJet officials, who have been trying to raise funds for a long time, say the company is “continuing its efforts to reach out-of-court settlements with all our business partners (some of which are in dispute) and have successfully resolved.” Same.”