SpiceJet Faces Financial Crisis as Wilmington Trust SP Services Seeks Insolvency.
Aircraft lessor Wilmington Trust SP Services (Dublin) Ltd has filed a petition with the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against SpiceJet, a low-cost carrier based in India.
As per the causelist of the tribunal, the case is scheduled to be heard on June 12.
In May 2023, the Directorate General of Civil Aviation (DGCA) deregistered three aircraft belonging to SpiceJet, following requests from lessors. Among these aircraft, one was owned by Wilmington.
Wilmington Trust SP Services, along with Sabarmati Aviation Leasing and Falgu Aviation Leasing, approached the civil aviation regulator to request the deregistration of three Boeing 737-800s due to non-payment of dues.
The DGCA carried out the deregistration of the aircraft with call signs VT-MXJ, MXF, and SZJ.