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SpiceJet Secures Stability with Carlyle Aviation Deal
19 Nov
Summary
- SpiceJet completed equity share allotment to Carlyle Aviation Partners.
- Liabilities of Rs 442.25 crore were reduced from the balance sheet.
- The airline secured $79.6 million in cash maintenance reserves.
SpiceJet has finalized the allotment of equity shares to Carlyle Aviation Partners, a significant move that has reduced its balance sheet liabilities by Rs 442.25 crore. This strategic financial maneuver is expected to provide long-term stability for the domestic carrier.
The settlement with Carlyle Aviation also includes provisions for future lease obligations and has secured approximately $79.6 million in cash maintenance reserves. Additionally, the airline received $9.9 million in cash maintenance credits, further supporting its operational restructuring efforts and fleet revival plans.
This milestone is part of SpiceJet's broader restructuring initiatives, which the airline aims to close soon. Despite reporting a higher net loss in the September quarter, attributed to foreign exchange fluctuations and aircraft-related expenses, SpiceJet is focusing on building a more resilient financial foundation.
