The Directorate General of Civil Aviation (DGCA) has cancelled the registration of two aircraft of SpiceJet, Boeing-737Max aircraft, following the request of a foreign-based lessor on the request of the Indian aviation regulator.
Senior official from regulator confirmed and said, “Under the provisions of Irrevocable De-registration and Export Request Authorisations (IDERA) it has happened.”
However, the airline company SpiceJet said in a statement that the move will not have an affect on the operations.
“The cancellation of the registration of the two aircraft will not affect the operations,” it said.
” While one of the aircraft is grounded for a long period and was to be returned earlier, the other is being returned due to certain engine issues with lessor. Both aircraft are being returned in the most efficient manner consensually,” SpiceJet statement added.
Meanwhile, two more planes were also deregistered last year following a request from another foreign lessor after SpiceJet defaulted on payment of lease rent.
Recently Budget carrier SpiceJet has restructured over USD 100-million outstanding dues to Carlyle Aviation Partners, into equity shares and compulsorily convertible debentures (CCDs). Aircraft lessor Carlyle Aviation Partners is the commercial aviation investment and servicing arm of Carlyle’s USD 143-billion Global Credit platform.
The transaction will wipe out over USD 10-million debt of SpiceJet, thereby strengthening its balance sheet for future expansion. The move will substantially deleverage the company’s balance sheet.