SpiceJet Allots Over 10 Crore Shares to Settle $50 Million Dues with Aircraft Lessors

SpiceJet has completed the allotment of equity shares to aircraft lessors as part of its restructuring plan, marking an important step in strengthening its balance sheet. The allotment was approved on November 18, 2025, enabling the airline to reduce liabilities tied to long-standing dues. 

SpiceJet Completes Share Allotment to Settle Outstanding Dues 

The Board’s Allotment Committee approved the issuance of 10,41,72,634 equity shares at ₹42.32 per share, including a premium of ₹32.32. The allotment covers $50,000,000 worth of dues that have now been converted into equity under the non-promoter category. Entities such as SASOF Aviation Ireland and Fly Aircraft Holdings collectively received these shares, representing a 6.83% stake. 

Liability Reduction and Financial Impact 

The conversion results in the removal of ₹442.25 crore from the airline’s balance sheet. A settlement mechanism allows any proceeds earned above $50,000,000 from future share sales to be adjusted against SpiceJet’s upcoming lease obligations. Additionally, the airline gains access to $79.6 million in cash maintenance reserves and $9.9 million in maintenance credits for future operational needs. 

Read More: SpiceJet Share Price Jump Nearly 7% to ₹37.8 as Airline Plans Major Liability Restructuring and Fleet Expansion! 

Strengthening Operational Capabilities 

The settlement aligns with ongoing restructuring measures aimed at stabilising operations and improving financial health. The airline expects these resources to support fleet revival, engine servicing, and operational continuity. The Allotment Committee meeting that approved the issuance was held between 09:30 PM and 11:45 PM on November 18, 2025. 

A total of 9 lessor entities received shares, with SASOF II (J) Aviation Ireland Limited receiving the largest portion of 2,47,82,921 shares. Other recipients include SASOF III entities and Fly Aircraft Holdings, each receiving allocations ranging between 55,21,179 and 1,76,66,684 shares. 

SpiceJet Share Price Performance 

As of November 19, 2025, at 2:34 PM, SpiceJet share price was trading at ₹36.84 up by 0.30% from the previous closing price. 

Conclusion 

The share allotment marks a notable step in SpiceJet’s restructuring efforts. By converting dues into equity and reducing liabilities, the airline strengthens its balance sheet while securing maintenance reserves to support upcoming operational requirements. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.