The Delhi High Court on Tuesday closed contempt proceedings against SpiceJet promoter and chairman Ajay Singh in a dispute with aircraft lessor TWC Aviation Capital, ruling that the case could not continue as substantial compliance had already taken place. As per Mint, the division bench of Justice Anil Kshetarpal and Justice Shail Jain recorded that SpiceJet had already returned a substantial portion of the leased assets. However, the court left the door open for the lessor to pursue a separate execution petition to recover any remaining technical records or aircraft parts. The litigation stems from a July 2, 2024 Delhi High Court order directing SpiceJet to return all leased assets, including airframes, engines and technical records, to TWC Aviation by July 8, 2024.
The TWC Aviation case is part of multiple legal battles between SpiceJet and aircraft lessors over unpaid lease rentals, recovery of aircraft and engines, maintenance records and other dues. According to Mint, the airline faces insolvency pressure with a special bench of the National Company Law Tribunal (NCLT) hearing petitions filed by aircraft lessors and other operational creditors over alleged payment defaults. The petitioners include AWAS Ireland entities, NGF Alpha, NGF Genesis, NGF Charlie, Sabarmati Aviation Leasing, Falgu Aviation Leasing, JetAir 17, Aviator ML 29641 and Alterna Aircraft. In March 2026, the London Commercial Court granted summary judgment in the Sunbird France versus SpiceJet dispute involving unpaid aircraft engine lease rentals, maintenance accruals and enforcement proceedings totalling about ₹64 crore.
Domestic airline SpiceJet is releasing employee salaries in phases as it continues to grapple with liquidity constraints, according to reports from CNBC-TV18. The airline has disbursed salaries for May to junior and support staff, while payments to remaining employees are being released in a phased manner. The airline did not specify a timeline for completing the salary payments, highlighting the ongoing financial stress at the carrier.
SpiceJet is currently operating 85 daily flights, significantly below the 140 flights that were proposed under its Summer Schedule, as reported by CNBC-TV18. The airline's operational fleet consists of 14 aircraft, including three Airbus A320 aircraft operating under damp lease arrangements. This reduced capacity reflects the airline's efforts to manage its financial position during the current season.
According to industry data reported by CNBC-TV18, SpiceJet's domestic market share declined to 1.9% in June, down from 3.9% in January, reflecting a reduction in the airline's presence in the domestic aviation market over the first half of the year. The airline has been pursuing measures to stabilise its operations, including inducting leased aircraft and addressing pending financial obligations.
According to CNBC-TV18, SpiceJet shares ended at ₹11.30 on Friday, up 0.27% for the day, but remain under pressure over a longer period. The stock has declined 6.07% over the past week, 8.13% over the past month, and 15.42% in the last three months. On a year-to-date basis, the stock has fallen 62%, while it is down 69.08% over the past one year and 61.37% over the last three years. As per Business Standard, the stock's 52-week high was recorded on October 27, 2025, while the 52-week low was on April 2, 2026.
