SpiceJet Receives CRISIL A4+ Rating Highlighting Strong Liquidity and Restructuring Plans

SpiceJet has been assigned a CRISIL A4+ rating, reflecting the airline’s restructuring plans, capital raising abilities, and adequate liquidity, according to a statement on October 13. The rating comes after two consecutive upgrades by Acuité Ratings & Research, signalling growing confidence in the low-cost airline’s revival strategy.

The ratings agency noted that SpiceJet has demonstrated financial discipline and operational improvements over the past year. “Crisil has acknowledged SpiceJet’s sustained efforts to strengthen its financial and operational performance,” the airline said.

Capital Raising and Financial Strength

SpiceJet has shown the ability to raise capital effectively. The airline recently raised ₹3,000 crore through a qualified institutional placement, used for payment of statutory dues, settlement of liabilities with creditors including aircraft and engine lessors, and maintenance of its existing fleet.

Acuité Ratings had upgraded the airline’s long-term credit rating to ‘BB (Stable)’ in September and reaffirmed its short-term rating at A4+ after an August update. These developments reflect a structured approach to financial management and improved operational efficiency.

Revival and Operational Plans

Crisil highlighted SpiceJet’s revival plan, which includes ungrounding 10 aircraft by early 2026 and finalising damp lease agreements for 18 aircraft, boosting capacity by 2.5 times. The agency also expects operating profitability to improve with higher capacity deployment during peak travel periods.

Liquidity Position

The airline’s liquidity position is considered adequate, with ₹333 crore in free cash and equivalents, supplemented by ₹150 crore in restricted cash. Crisil expects these funds, along with steady cash accrual, to cover operational expenses, debt repayments, and lease obligations.

SpiceJet Share Price Update

As of October 15, 2025, 2:39 PM, SpiceJet share price stood at ₹33.81 (BSE), down ₹1.15 from the previous close of ₹34.96. The stock opened at ₹34.50 and traded within a day’s range of ₹33.63 to ₹34.85. 

Over the past 52 weeks, SpiceJet share price has fluctuated between ₹28.13 and ₹68.98. The airline’s market capitalisation is ₹4,941.24 crore, with a trading volume of 42,11,760 shares, indicating active market participation.

Read more: SpiceJet Receives 3 New Aircraft to Boost Expansion Plan

Conclusion

The CRISIL A4+ rating highlights SpiceJet’s focus on financial and operational recovery. With structured capital raising, ungrounding plans, and stable liquidity, the airline is positioned to maintain operational stability, supporting growth while investors monitor SpiceJet share price closely.

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