SpiceJet has entered into a restructuring deal with Carlyle Aviation to resolve lease dues worth $121.18 million. The plan includes issuing equity shares, reducing debt, and revising lease terms to improve financial stability and operational efficiency.
SpiceJet Limited has announced a financial restructuring deal with Carlyle Aviation Management to address outstanding lease liabilities and improve its financial position. As of 11:52 am IST, the share price of SpiceJet was trading at ₹43.57 per share, down by 0.55%.
On a year-to-date basis, the stock is down by 21.79% while in the last 2 years it is up by 56.63%. In the last 12 months, it has shown a decline of 21.48%.
SpiceJet Limited, has entered into a significant financial restructuring agreement with Carlyle Aviation Management Limited (CAML) to address its pending aircraft lease obligations. As of March 31, 2025, the carrier’s lease-related liabilities were reported at $121.18 million. This strategic initiative is designed to reduce the airline's debt burden and enhance its financial stability.
As part of the arrangement, SpiceJet intends to issue equity shares to CAML-managed lessors at a rate of ₹65 per share or in accordance with SEBI’s preferential allotment norms. The total equity issuance, valued at up to $50 million, is subject to regulatory approvals and shareholder consent. Post-issuance, CAML’s stake in the airline will remain under 10% of the total shareholding, aligning with corporate governance and regulatory requirements.
This deal is expected to bring considerable relief to SpiceJet’s balance sheet by reducing liabilities. Furthermore, it involves a review and potential revision of the current lease terms, including aspects like aircraft redelivery, grounded fleet revival, maintenance reserves, and engine overhaul planning. These updates are aimed at improving the operational efficiency of the airline’s fleet.
In the March 2025 quarter, SpiceJet reported a 17.53% decline in revenue from operations, which stood at ₹1,941.60 crore compared to ₹2,354.40 crore in the same quarter last year. Despite the drop in revenue, the airline posted a sharp improvement in profitability, with profit after tax rising to ₹318.90 crore from ₹119.60 crore in March 2024, marking a YoY growth of 166.64%.
For the full financial year ended March 2025, the company reported a 20.72% decline in operational revenue to ₹6,736.20 crore from ₹8,497.00 crore in the previous year. However, it achieved a turnaround on the profitability front, posting a net profit of ₹48.10 crore, compared to a net loss of ₹404.20 crore in FY24.
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SpiceJet Ltd is principally engaged in the business of providing air transport services for the carriage of passengers and cargo. SpiceJet is a low-cost airline operating primarily in India. It operates the maximum number of UDAN flights in India. It operates ~250 daily flights to 48 destinations within India and to international destinations. Its fleet includes Boeing 737 Max, Boeing 700 and Q400S.
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Disclaimer: The article is for informational purposes only and not investment advice.
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