SpiceJet faces new insolvency plea by aircraft lessor over default of ?58.64 crore

SpiceJet faces a new insolvency plea by aircraft lessor Aviator ML 29641 Limited over an alleged default of ?58.64 crore. The lessor has approached the National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against the airline. The plea alleges that SpiceJet has failed to pay lease rentals for several aircraft, leading to the default. This development adds to the financial challenges faced by SpiceJet, which has been struggling with liquidity issues and operational disruptions. The NCLT’s decision on the plea will have significant implications for the airline’s future operations and financial stability.