Aircraft lessors seek quick equity deal for troubled airline SpiceJet


By Mihir Mishra, ET Bureau | 12 Jan, 2015


Some aircraft lessors of Spicejet want the troubled budget airline and its prospective investors led by former promoter Ajay Singh to finalise an equity infusion deal as early as possible.

"I had a meeting with the Spicejet management and Ajay Singh.... They do not have months with them now and they should finalise the deal within weeks," said Robert J Martin, managing director and CEO of Singapore-based BOC Aviation, which has leased three Boeing 737s to SpiceJet.

He was quick to clarify that it was a suggestion to the airline and not an ultimatum. "We are satisfied with the airline, as they are up to date with payments to us," he said. Martin, however, said BOC Aviation took pre-emptive action and did not deliver three other aircraft to SpiceJet. "Now, SpiceJet has three aircraft and they are current on payments for these aircraft till the end of December 2014," he said.


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