Over 100 flights were delayed at the Delhi airport on Friday morning due to technical problems with the air traffic control system and authorities are working to fix the issues, sources said.
Two more insolvency petitions were filed by Sabarmati Aviation and JetAir 17 against budget carrier Spicejet at the National Company Law Tribunal (NCLT) on Monday. The NCLT issued a notice to the airline over the plea by operational creditor Sabarmati Aviation while asking another complainant, JetAir 17, to file additional documents in support of its claims of $27 million.
Budget carrier SpiceJet on Wednesday said it has amicably settled a $132-million dispute with aircraft leasing firm Babcock & Brown Aircraft Management (BBAM). The dispute, valued at $131.85 million (Rs 1,107 crore) with the lessors -- Horizon Aviation 1 Ltd, Horizon II Aviation 3 Ltd, and Horizon III Aviation 2 Ltd -- has been resolved for $22.5 million, SpiceJet said in a statement.
Corporate India is embarking on an ambitious investment drive, with capital expenditure (capex) expected to double to $850 billion over the next five years, according to a report by S&P Global Ratings. Indian power & transmission, airlines, and green hydrogen sectors would spearhead the spending, the report said.
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.
Private air carrier Spicejet on Wednesday said it will raise $75 million (about Rs 355 crore) through the sale of shares or bonds to fund its fleet and route expansion programme.
More than 300 flights have been cancelled and at least 25 airports, including Srinagar, have been temporarily shut for operations amid restrictions in the wake of the armed forces launching missile attacks on terror targets in Pakistan on Wednesday morning.
Ajay Singh, one of the founder directors of Spicejet, has left the board of the low-cost airline, paving the way for restructuring of the company by its new owner Kalanithi Maran, the promoter of Sun TV.
Shares of Oil marketing companies (OMCs) extended their gains for the fourth consecutive session on Thursday after crude oil prices plunged to six-month lows in the international markets, which boosted investor sentiments. Traders said the OMC stocks gained with crude oil prices hovering below $70 per barrel after OPEC-plus decision to increase output from April, a move which is expected to favour Indian refiners with added marketing margins on retail fuel.
Out of the 14 flights, 13 were diverted to Jaipur and 1 to Dehradun, the official said and added that the diversions happened between 8.30 am and 3 pm.
The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of Go First, the budget carrier that stopped flying nearly three years ago after being bogged down by financial woes. In May 2023, the airline filed for a voluntary insolvency resolution process citing financial woes. The tribunal, in a 15-page order, said it is ordering the liquidation of the corporate debtor Go Airlines (India) Ltd.
SpiceJet on Tuesday said shareholders have approved the transfer of its cargo and logistics services business to a subsidiary, on a slump sale basis, through an all-share deal worth over Rs 2,555 crore, a move that will help the airline to significantly reduce its negative networth. Besides, the shareholders have cleared the proposal to raise up to Rs 2,500 crore through the Qualified institutional placement (QIP) route. These developments also come at a time when the airline industry is slowly recovering after being battered by the coronavirus pandemic.
The Madras high court has ordered the winding up of private carrier SpiceJet Limited and directed the official Liquidator attached to the high court to take over its assets, in a plea filed by a Swiss company over unpaid dues. The court was allowing a company petition from Credit Suisse AG, a stock corporation registered under the laws of Switzerland, which prayed for winding up of the Indian firm under the provisions of the Companies Act, 1956 and appoint the Official Liquidator of the high court as the liquidator with all powers under Section 448 of the Companies Act to take charge of SpiceJet's assets, properties, stock in trade and books of accounts. The "respondent company (SpiceJet) has miserably failed to satisfy the three pronged test suggested by the Supreme Court in Mathusudan Govardhandas & Co v Madhu Woollen Industries (P) Ltd, and hence had rendered itself liable to be wound up for its inability to pay its debts under Section 433 (e) of the Companies Act 1956," Justice R Subramanian said in his order on Monday and directed the private carrier be wound up and the official liquidator take over its assets.
SpiceJet is the first Indian low fare airline to establish such an arrangement with a foreign airline.
The bone of contention between the two sides relates to changes in the purchase terms.
"Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," DIPAM Secretary Tuhin Kanta Pandey tweeted.
Ajay Singh will team up with two blue-chip investors to bail out the airline
Kalanithi Maran claims deal with Ajay Singh is dead; SpiceJet spokesperson says Maran's claims are baseless and false
Temasek Holdings Pte Ltd., the Singapore government's investment company, said it would not invest in SpiceJet Ltd., an Indian low-fare carrier that started flying in May, because of a disagreement on terms.
A Mumbai-bound SpiceJet flight from Jaipur carrying 167 passengers and crew overshot the runway at the Mumbai airport Monday night after landing amid heavy rains, blocking it for traffic.
SpiceJet put one lakh seats up for grabs.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
SpiceJet's chief operating officer Sanjiv Kapoor has resigned after two years of service.
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
Sources in the government said the roof that collapsed at T1 was constructed during 2008-09 and that the work was contracted out by GMR to private contractors.
The Irish firms had sought to deregister SpiceJet.
The airline was forced to ground its fleet in December after running out of cash.
SpiceJet grounded all its aircraft due to payment woes
Promoters of SpiceJet do not have funds to bail out the airlines of dire consequences.
SpiceJet was forced to ground its fleet and cancel hundreds of its flights in December.
Private sector low cost airline SpiceJet has entered into a strategic tie-up with Hindustan Petroleum Corp Ltd to sell air-tickets through the latter's petrol stations.
SpiceJet urges HC to direct DGCA not to deregister its planes.
Low-cost carrier SpiceJet Ltd on Friday said it expects to resolve settlement disputes with its lessors shortly.
Oil firms will supply fuel to SpiceJet on 'cash and carry basis'.
Spicejet will raise Rs 530.76 crore or Rs 5.3 billion ($118.5 million) through issue of equity shares on preferential basis to various foreign and domestic investors.
SpiceJet was dragged to court by several aircraft leasing firms.
HC asks DGCA not to de-register SpiceJet planes till April 6.
The bookings for this three-day offer commences from Monday with a travel validity period between January 16 and October 24 next year, SpiceJet said.
Low-cost carrier SpiceJet said on Monday it had signed a $1.1 billion deal for sale and lease back agreement, covering 16 brand-new Boeing aircraft.
The Delhi airport, the country's busiest airport, on Friday early morning witnessed the collapse of a roof at Terminal 1 amid heavy rains that killed one person, prompting the government to order a detailed probe and an inspection of the structural strength of all airports.
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