Another lessor asks DGCA to de-register its aircraft with SpiceJet

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NEW DELHI: Aircraft leasing companies that have leased aircraft to cash-strapped SpiceJet are now rushing to reclaim their aircraft.
Now Ireland’s Alterna Aircraft V B Ltd has asked the Directorate General of Civil Aviation (DGCA) under the provisions of Irrevocable De-registration and Export Request Authorisations (IDERA).
This request comes just days after another Irish aircraft lessor AWAS, that was acquired by Gulf-based Dubai Aerospace Enterprise (DAE) in 2017, had requested the regulator to de-register three Boeing 737s as the airline has reportedly not been able to pay lease rentals.
About the latest de-registration request, SpiceJet said in a statement: “This aircraft is part of early termination agreement executed with the lessor way back in November 2021. The lessor has not provided documentation in the manner desired to SpiceJet to facilitate de-registration of the aircraft and has instead chosen to de-register on its own. This aircraft has already been removed from our fleet for over eight months and does not in any manner affect our operations or schedule.”
Meanwhile, SpiceJet on Tuesday said it has entered into a full and final settlement with Airports Authority of India (AAI) and has cleared all outstanding principal dues of the airport operator.
“With this, SpiceJet will no longer remain on ‘cash and carry’ at AAI run airports across the country and will revert to advance payment mechanism for daily flight operations…. AAI will release SpiceJet’s Rs 50 crore bank guarantee following the airline clearing all its principal dues. This will result in additional liquidity for the airline,” SpiceJet had on Tuesday.
IDERA is part of the Cape Town Convention and provides for the owner of an aircraft to get an aircraft de-registered from the name of a third party in cases like default of lease rentals.
On July 30, 2022, a SpiceJet had said the airline plans to replace all its older Boeing aircraft with the new Max model in a phased manner.
“Between now and next calendar year, SpiceJet will induct around 20 new Max planes into its fleet. As part of this modernisation plan, we are returning older aircraft in a phased manner including these three aircraft. These returns have been planned and will not have any impact on our operations. SpiceJet has already returned 12 old Boeing aircraft to lessors in the last calendar year. We have 13 MAX aircraft in our fleet and the new inductions would begin from October 2022,” the spokesperson had said.

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