SpiceJet Secures $89.5M Liquidity Boost From Carlyle Deal
SpiceJet has reached a settlement with Carlyle Aviation Partners that unlocks $89.5 million in liquidity. This includes $79.6 million in cash maintenance reserves for aircraft and engine upkeep, and $9.9 million in maintenance credits to reduce lease obligations.
Lease Restructuring And Equity
As part of the agreement, lease obligations totaling $121.18 million will be restructured. Carlyle will receive equity shares worth $50 million. If proceeds from those shares exceed that amount, the excess will help offset future lease payments.
Shareholder Reaction
SpiceJet’s shares rose about 5–5.4% on the announcement following a period of losses. Investors welcomed the move as providing much-needed relief to the airline’s balance sheet.
Company Statement And Objectives
Ajay Singh, Chairman and Managing Director, said the deal will significantly reduce liabilities, strengthen the airline’s financial position, and support its ongoing restructuring efforts. He added that it also shows Carlyle’s confidence in SpiceJet’s long-term prospects.
