Spicejet

SpiceJet CFO Ashish Kumar resigns less than 2 years after appointment

The airline also announced the appointment of Joyakesh Podder as the new head of finance, designated as deputy CFO of the company from July 15

SpiceJet shares fly 7% on six-fold jump in Q4 profit; gains 15% i

SpiceJet shares: SpiceJet airline reported a standalone net profit of Rs 119 crore in Q4FY24

Akasa Air had worst load factor in March 2023, SpiceJet topped the charts

The two carriers' load factors are in direct contrast to their on-time performance. Akasa Air was at the top, SpiceJet was at the bottom in March OTP chart, shows data from aviation Ministry

SpiceJet had worst on-time performance in March; Akasa was best: Govt data

AirAsia India and Air India had the -lowest and third-lowest OTPs among 7 major carriers

SpiceJet completes SpiceXpress hive off, results in gain of Rs 2,555 cr

As per the airline, the hive off would strengthen SpiceJet's balance sheet, wipe out a substantial portion of the company's negative net worth and unlock significant value for the company and its shar

SpiceJet hives off cargo and logistics biz into separate entity from Apr 1

SpiceJet Ltd on Monday said it has hived off its cargo and logistics business SpiceXpress into a separate entity -- SpiceXpress and Logistics Pvt Ltd, from April 1. The move results in a one-time gain of Rs 2,555.77 crore for SpiceJet, substantially reducing its negative net worth, the company said. It also paves the way for SpiceXpress to raise funds independently, SpiceJet said. The decision to hive off SpiceXpress is in sync with the company's long-term business plan and will unlock significant valuation of the logistic business, SpiceJet Ltd Chairman Ajay Singh said. Singh further said "the separation of our cargo and logistics arm is a stepping stone in our growth story which shall unfold in the times to come". SpiceXpress reported a net profit of Rs 51.4 crore for the April-December period of FY23. "In a bid to boost the growth of its cargo business and provide a more streamlined and efficient service to its customers, SpiceJet Ltd has completed the hive off of its cargo an

737 Max's grounding was bigger disaster for us than Covid: SpiceJet CMD

Ajay Singh said that after the Covid outbreak, SpiceJet was relatively weaker than other Indian carriers

SpiceJet restructuring balance sheet; to push for fleet expansion: CEO

SpiceJet chief Ajay Singh on Monday said the airline is significantly restructuring its balance sheet and will aggressively push for fleet expansion. The airline will also be having a significant number of dedicated cargo aircraft, he said, adding that the cargo business has helped the airline pay off its liabilities. Last month, the airline announced that Carlyle Aviation Partners will acquire a 7.5 per cent stake in the airline by converting outstanding dues as well as snap up shareholding in the cargo business. Besides, it is set to tap the Qualified Institutional Buyer (QIB) route to raise up to Rs 2,500 crore. Amid the budget carrier facing multiple headwinds, he also said that a measure of desperation is always good for an organisation... we will emerge stronger". "It is in our (SpiceJet) DNA. We just refuse to die," Singh said at a session at CAPA India aviation summit here. The airline is significantly restructuring the balance sheet and will be raising fresh capital. The

DGCA de-registers 2 SpiceJet aircrafts on request from Dublin-based lessors

The deregistration of the aircraft "would not impact" the carrier's operations, according to a SpiceJet representative

Sensex ends 326 pts lower ahead of GDP data; RIL, Tata Steel slip 2%

CLOSING BELL: The Sensex and Nifty extended their losing streak into the eighth straight day on Tuesday; BSE benchmark has now shed 2,358 points, and NSE index 732 points in this period.

Stocks to watch: SpiceJet, Bharti Airtel, SAIL, Wipro, Brigade Ent, Mastek

Stocks to watch today: From SpiceJet to Bharti Airtel, here are top stocks to watch in Tuesday's trading session

SpiceJet debt recast: Carlyle Aviation to pick up 7.5% stake in airline

SpiceXpress, the cargo business, to be hived off into separate unit

SpiceJet's $100 mln debt rejig: Carlyle Aviation to buy stakes in airline

In a move that will help reduce its debt by USD 100 million, cash-strapped SpiceJet on Monday announced that Carlyle Aviation Partners will acquire a 7.5 per cent stake in the airline by converting outstanding dues as well as snap up shareholding in the cargo business. As it faces multiple headwinds, the no-frills carrier will also tap the Qualified Institutional Buyer (QIB) route to raise up to Rs 2,500 crore. SpiceJet's board has approved restructuring more than USD 100 million outstanding dues to aircraft leasing firm Carlyle Aviation Partners into equity shares and Compulsorily Convertible Debentures (CCDs). Carlyle Aviation Partners is the commercial aviation investment and servicing arm of Carlyle's USD 143 billion Global Credit platform. Fresh equity shares to the tune of USD 29.5 million (around Rs 244.28 crore) will be issued to Carlyle Aviation Partners at Rs 48 per share or the Sebi-determined price, whichever is higher. Post deal, the lessor will have a 7.5 per cent sta

SpiceJet plane makes emergency landing in Kolkata, pilot spots broken blade

A SpiceJet flight on the way to Bangkok made an emergency landing at the Kolkata airport in the early hours of Monday after the pilot noticed that an engine blade was broken, officials said. The Boeing 737, operating as flight SG83, took off with 178 passengers and six crew members from the Kolkata airport for Bangkok around 1.09 am. Minutes later, the pilot noticed that a blade of the left engine was broken, they said. Soon, he contacted the air traffic control and a full emergency was declared at the Kolkata airport with fire engines, ambulances, and emergency teams of the CISF in waiting, they added. The plane made an emergency landing at 1.27 am and all the passengers and crew members were brought out safely, airport officials said. The full emergency was terminated at 2 am, they said. The passengers left for Bangkok on another flight at 7.10 am, officials said. The aircraft with the faulty engine blade was undergoing checking, they said.

Sensex trims losses, ends 176 pts lower led by IT, metals; Banks shine

CLOSING BELL: The key benchmark indices ended lower for the seventh straight trading day. The Sensex has shed 2,032 points, while the Nifty 50 has declined 643 points in this period.

SpiceJet restructures dues to Carlyle Aviation, to raise fresh capital

The airline will also transfer $65.5 million worth of compulsorily converted debentures of SpiceXpress and Logistics to Carlyle Aviation

SpiceJet soars 6% as board okays debt restructuring plan worth Rs 2,555 cr

The company's board approved transfer of cargo business in lieu of issuance of securities including Compulsorily Convertible Debentures (CCDs) aggregate to Rs 2,555.77 crore.

SpiceJet approves slump sale of cargo biz, raising Rs 2,500 cr via QIB

SpiceJet has also decided to buy AS Air Lease in the settlement with aircraft lessor Castlelake

Stocks to watch: SpiceJet, IOC, Granules India, Phoenix Mills, ABB India

Stocks to watch: From SpiceJet to Indian Oil Corporation, here are top stocks likely to be in action in Monday's trading session

SpiceJet introduces direct flight service from Delhi to Shillong

SpiceJet has launched a direct flight service from Delhi from the Shillong, officials said on Saturday. The airline said the Delhi-Shillong flight would operate on Monday and Friday. "The inaugural flight landed from Delhi at the airport here with 18 passengers on Friday. The same flight took off with 12 outbound passengers," an Airport official told PTI. He said senior government officials including transport department secretary H Kharmalki and MTC MD KL Nongbri were present. SpiceJet is the third airline to start scheduled flights from Shillong after Indigo and Alliance Air. SpiceJet had entered into an MoU with the Meghalaya government in January to connect the Meghalaya capital with the national capital. Earlier, Fly Big airlines had operated the ShillongDelhi route but an MoU with them was withdrawn last year.