SpiceJet to issue $50 mln shrs to Carlyle Aviation to settle $121 mln debt
This story was originally published at 11:14 IST on 11 September 2025
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--SpiceJet:To issue $50-mln shrs to Carlyle Aviation to settle $121-mln loan
MUMBAI – SpiceJet Ltd. will issue equity shares worth $50 million to Carlyle Aviation Partners to settle lease obligations of $121.18 million, the Indian airline said in an exchange filing Thursday. It will help SpiceJet unlock $79.60 million in cash maintenance reserves for future aircraft maintenance and another $9.90 million in cash maintenance credit to offset lease obligations.
"The settlement agreement also provides for a mechanism under which, in the event lessors realise proceeds above $50 million from the sale of the issued shares, a portion of such excess will be applied to offset future lease obligations," the filing said.
SpiceJet's promoter will have the option to purchase the equity shares given to Carlyle Aviation once the lock-in period expires. For the June quarter, the airline reported a consolidated net loss of INR 2.34 billion on a consolidated revenue of INR 11.20 billion. At 1058 IST, shares of the company traded at INR 33.69 on the BSE, up 1.9%. End
US$1 = INR 88.22
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Anshul Choudhary
Edited by Akul Nishant Akhoury
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