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Spicejet
SectorServices
In the news
HC rejects SpiceJet's property security plea for ₹144.5 cr deposit
ECLGS 5.0: Indian Airlines' Lifeline Under Strain
India's Aviation Growth Hits 1.2% as Airlines Hike Fuel Surcharges
SpiceJet Market Share Drops to 1.6% as DGCA Scrutiny Continues
SpiceJet Faces 24+ Hour Flight Delays as Govt Monitors Crisis
OMC stocks fall 3% as Brent crude nears $120/barrel amid Middle East tensions
Fuel Shock: How Crude Volatility Is Testing IndiGo and SpiceJet
SpiceJet Market Share Doubles to 4.3% as Fleet Expansion Continues
ITC, TBZ surge while Maruti, aviation stocks fall on Tuesday
SpiceJet seeks Delhi HC time to pay ₹144.5 cr to Maran
SpiceJet's Last-Minute Settlement: NCLT's Sharp Rebate
SpiceJet Shares Drop 4% as NCLT Rehears Bankruptcy Petitions
SpiceJet closes contempt case, faces multiple legal disputes
SpiceJet Hits 10% Upper Circuit on Fleet Expansion Despite 59% YTD Loss
SpiceJet Faces Deregistration of 4 Boeing 737-8 MAX Planes Amid Operational Crisis
Delhi HC records SpiceJet's ₹140 cr undertaking to KAL Airways
IndiGo, SpiceJet surge 5% as crude oil hits pre-war levels
SpiceJet Gets ₹150 Cr First Tranche Under ECLGS Scheme
SpiceJet pilots unpaid since March as airline seeks emergency loan
SpiceJet adds 3 Airbus A320 planes in July, returns Boeing 737 MAX
Company insights, generated from the most recent coverage.
SpiceJet's DSCR improved sharply to 1.80x in FY25 from 0.71x in FY24, but 9MFY26 operating losses of ₹437 Cr show that recovery was not durable — lenders read the FY25 improvement as a low-base artefact, not a turnaround.
With negative net worth of ₹2,983 Cr in FY25, every rupee of ECLGS 5.0 SpiceJet draws worsens its debt-to-equity ratio mathematically — the scheme cannot deleverage the airline, only delay a cash default.
SpiceJet's reliance on ECLGS 5.0 makes it hostage to scheme eligibility mechanics — any slip into SMA-2, overdue beyond 60 days, or DGCA compliance failure before 31-Mar-26 cuts off access entirely.