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News Topical, Digital Desk : Airline company SpiceJet has completed a significant phase of its business restructuring process. The company has issued equity shares to Carlyle Aviation Partners. This move removes ₹442.25 crore ($50 million) of liabilities from the company's balance sheet.
The company's allotment committee approved the issuance of 10,41,72,634 equity shares (face value ₹10 per share) on a preferential basis under the non-promoter category at an issue price of ₹42.32 (including a premium of ₹32.32).
Impact on lease liabilities Under the settlement structure, a portion of the proceeds of over $50 million from the future sale of these shares through the lessor will be adjusted to reduce SpiceJet's upcoming lease liabilities. The deal also benefits the airline from a $79.6 million cash maintenance reserve and a $9.9 million maintenance credit, which will be used for aircraft and engine maintenance. SpiceJet's stock was trading in the green at 3 p.m., up 0.5%. However, the stock has fallen over 34% since the beginning of the year. Company's performance in Q2FY26 The company's revenue fell 14% to ₹781 crore in the second quarter of the current financial year. The company's net loss increased by 44% to ₹633 crore. The company also reported a forex loss of ₹187 crore in the September quarter, further exacerbating the losses. Through this restructuring, SpiceJet is taking a major step towards reducing its debt pressure and improving operational stability.
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