SpiceJet clears ₹442-crore liability after major restructuring with Carlyle Aviation Partners

SpiceJet has completed a key phase of its ongoing financial restructuring by issuing equity shares to Carlyle Aviation Partners. This removes ₹442.25 crore ($50 million) in liabilities from the airline’s balance sheet.

The airline’s Allotment Committee approved the issuance of 10,41,72,634 equity shares of face value ₹10 each at an issue price of ₹42.32 per share, including a premium of ₹32.32, on a preferential basis under the non-promoter category.

As part of the settlement structure, any amount realised by the lessor over $50 million from the eventual sale of these shares will partially offset SpiceJet’s future lease obligations. The deal also provides the airline access to $79.6 million in cash maintenance reserves for aircraft and engine upkeep and $9.9 million in cash maintenance credits.

The shares of the aviation company are trading nearly half a percent in the green at 3 pm. The stock has fallen over 34% in the year so far.

In Q2FY26, the airline’s revenue from operations fell 14% year-on-year to ₹781 crore. Net loss widened by nearly 44% to ₹633 crore, dragged further by a foreign exchange loss of ₹187 crore during the quarter.

Catch live market updates with CNBC-TV18.com's blog