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GURUGRAM, September 11, 2025: SpiceJet Limited has reached a settlement with Carlyle Aviation Partners, unlocking US $ 79.6 Million in cash maintenance reserves for future aircraft and engine maintenance, plus US $ 9.9 Million in cash maintenance credits to offset its lease obligations. This agreement significantly enhances airline’s liquidity and supports its ongoing restructuring efforts.
These liquidity enhancements are part of overall settlement agreement with Carlyle Aviation Partners and its affiliated entities, under which the Lessors shall restructure certain lease obligations totalling US $ 121.18 Million in conjunction with the issuance of equity shares aggregating to US $ 50 Million. The settlement agreement also provides for a mechanism under which, in the event lessors realize proceeds above US $ 50 Million from the sale of the issued shares, a portion of such excess will be applied to offset future lease obligations.
The promoter (or its designated assignee) will have the option/opportunity to purchase such Equity Shares on mutually agreed terms upon the expiry of the statutory lock‐in period and any additional lock‐in period contractually agreed between the Parties.
Ajay Singh, Chairman & Managing Director, SpiceJet, said, “This agreement marks a significant milestone in our ongoing restructuring and un‐grounding efforts. The support extended by Carlyle demonstrates their confidence in SpiceJet’s long‐term prospects. This transaction meaningfully reduces our liabilities, strengthens our balance sheet, and positions us well for sustainable growth.”
The settlement reflects SpiceJet’s continued focus on strategic restructuring, cost efficiency, and long‐term partnerships with stakeholders as it charts its next phase of growth.
About SpiceJet:
SpiceJet is India's favourite airline that has made flying affordable for more Indians than ever before. SpiceJet is an IATA-IOSA certified airline that operates a fleet of Boeing 737s & Q-400s and is one of the country's largest regional players operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The majority of the airline's fleet offers SpiceMax, the most spacious economy-class seating in India.
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