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SpiceJet lessors back to square one after bankruptcy court orders cases to be reheard
August 20th 2026
In a setback decision for aircraft leasing companies that have waged a years-long battle against SpiceJet, India’s National Company Law Tribunal said on August 19, 2026, that bankruptcy petitions filed by aircraft lessors against the LCC will be heard afresh by a new bench, after the airline reached a last-minute settlement with one lessor. Read More » The last-minute settlement with one of eight aircraft lessors whose bankruptcy petitions were due for rulings was announced on Monday, August 17. The bankruptcy court rebuked SpiceJet for the deal, saying it wasted judicial time, and asked the carrier whether more deals were coming. Reuters Agency reported that one of the National Company Law Tribunal judges said, “It makes a mockery of the entire thing,” criticizing the parties for waiting until the day of the ruling to disclose the settlement. The tribunal judges said substantial time had already been spent hearing arguments and preparing a judgment, but agreed, despite repeated calls from other lessors’ lawyers to pronounce their rulings, to defer the judgment until August 19, after the parties asked for time to put the settlement agreement before the tribunal.
On August 19, the National Company Law Tribunal said it had prepared a judgment covering eight petitions against SpiceJet, but the withdrawal of one petition following the settlement meant the ruling needed to be rewritten. With one member of the judicial panel due to retire on Wednesday, the tribunal said there was not enough time to rewrite and deliver the judgment, meaning the remaining petitions would have to be heard afresh by a new bench, a judge said. SpiceJet described the order as a “positive step” toward resolving matters. “We remain committed to working closely and constructively with our partners to find mutually acceptable solutions,” said a spokesperson.
