NEW DELHI: Crisis-hit airline SpiceJet has announced allotment of 4.81 crore equity shares on a preferential basis to nine of its aircraft lessors to clear outstanding dues of `231 crore. The nine lessors who have been allotted shares include SASOF III (A13) Aviation Ireland DAC, SASOF III (A6) Aviation Ireland DAC, SASOF III (C) Aviation Ireland DAC, SASOF III (E) Aviation Ireland DAC, SASOF III (A19) Aviation Ireland DAC, SASOF II (J) Aviation Ireland DAC Citrine Aircraft Leasing Limited, Fly Aircraft Holdings Seven Limited, Fly Aircraft Holdings One Limited.
The company also disclosed that it has on a preferential basis further allotted 3.41 crore equity shares and 13.15 crore warrants at an issue price of Rs 29.84 each to Spice Health Care Private Ltd (an entity under ‘promoter group’). Earlier in February, SpiceJet had converted around $100 million in dues to aircraft lessor Carlyle Aviation into equity and debentures.
Additionally, the Delhi High Court had recently ordered the airline to pay Rs 100 crore to former owner Kalanithi Maran. SpiceJet owes a total of Rs 397 crore to Maran. The carrier’s shareholders on Thursday passed a number of resolutions, including a Rs 2,500 crore fundraise and a preferential issue of shares to lessors to clear outstanding dues.
Shares of SpiceJet closed flat at Rs 31.12 apiece on Monday. on the Bombay Stock Exchange The company has a market cap of Rs 1.87 thousand crore. Because of various issues and the grounding of a large number of its fleet, SpiceJet’s market share came down to 4.2% as of July, lower than that of new entrant Akasa, which only began commercial operations in August 2022.