Menu
Menu
Engine Lease Finance BV has filed an insolvency plea against SpiceJet, citing a payment default of over USD 12 million, marking a critical juncture for the airline. SpiceJet faces a legal challenge as Engine Lease Finance initiates NCLT proceedings over alleged financial defaults, underscoring significant implications for its future. The NCLT has scheduled a pivotal hearing on August 2, 2024, where SpiceJet must address Engine Lease Finance's insolvency petition amid objections raised on its maintainability. Engine Lease Finance's claim against SpiceJet poses potential ramifications for the airline's stakeholders and operational continuity in the competitive aviation landscape. SpiceJet's response to the USD 12 million debt claim by Engine Lease Finance will be scrutinized as the NCLT weighs the merits of the insolvency petition.