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SpiceJet has complied with the directive of the Supreme Court by remitting $1.5 million to Credit Suisse. The payment was executed on 14 September 2023. 

SpiceJet remits 1.5 million to Credit Suisse

SpiceJet acknowledges the legal process and is committed to complying with all court directives and obligations in the Credit Suisse matter and will make the payment of $1.5 million as per the court directive. Till date, SpiceJet has already paid a total of $8 million to Credit Suisse as per consent terms.This liability is an old one and predates the current Promoter taking over the company,” SpiceJet said in a statement.SpiceJet is a low-budget air carrier. The airline operates a fleet of Boeing 737s, Q-400s & freighters and is one of the countrys largest regional players operating multiple daily flights under UDAN or the Regional Connectivity Scheme.The company reported standalone net profit of Rs 204.56 crore in Q1 FY24 as against net loss of Rs 788.83 crore in Q1 FY23. However, total revenue from operations declined 18.52% YoY to Rs 2,001.74 crore during the quarter ended 30 June 2023.

SpiceJet to pay Rs 100 crore to Kal Airways; will pay $1.5 million to Credit Suisse as per court orders

SpiceJet has made a payment of Rs 77.5 crore to Kal Airways and will complete the payment of Rs 100 crore today by paying Rs 22.5 crore as per the directions of the Honble Delhi High Court.SpiceJet acknowledges the legal process and is committed to complying with all court directives and obligations in the Credit Suisse matter and will make the payment of $1.5 million as per the court directive. Till date, SpiceJet has already paid a total of $8 million to Credit Suisse as per consent terms.SpiceJet remains committed to the highest standards of transparency and legal compliance. This liability is an old one and predates the current Promoter taking over the company.

SpiceJet to complete payment obligation of Rs 100 cr to Kal Airways 

SpiceJet Ltd gained 6.42% today to trade at Rs 42.25. The S&P BSE India Infrastructure index is up 0.44% to quote at 371. The index is up 7.18 % over last one month. Among the other constituents of the index, PNC Infratech Ltd increased 2.79% and Gujarat State Petronet Ltd added 1.39% on the day. The S&P BSE India Infrastructure index went up 22.58 % over last one year compared to the 11.56% surge in benchmark SENSEX. SpiceJet Ltd has added 33.91% over last one month compared to 7.18% gain in S&P BSE India Infrastructure index and 0.01% rise in the SENSEX. On the BSE, 3.55 lakh shares were traded in the counter so far compared with average daily volumes of 35.76 lakh shares in the past one month. The stock hit a record high of Rs 46.2 on 09 Sep 2022. The stock hit a 52-week low of Rs 22.65 on 23 May 2023.

SpiceJet Ltd Surges 6.42%

SpiceJet Ltd rose 6.04% today to trade at Rs 33. The S&P BSE India Infrastructure index is up 0.53% to quote at 370.4. The index is up 7.72 % over last one month. Among the other constituents of the index, Indian Railway Finance Corporation Ltd increased 4.43% and Oil India Ltd added 2.65% on the day. The S&P BSE India Infrastructure index went up 23.47 % over last one year compared to the 10.85% surge in benchmark SENSEX. SpiceJet Ltd has added 5.3% over last one month compared to 7.72% gain in S&P BSE India Infrastructure index and 0.08% drop in the SENSEX. On the BSE, 1.2 lakh shares were traded in the counter so far compared with average daily volumes of 21.94 lakh shares in the past one month. The stock hit a record high of Rs 47 on 05 Sep 2022. The stock hit a 52-week low of Rs 22.65 on 23 May 2023.

SpiceJet Ltd Spurts 6.04%

The airline company may issue equity shares andor convertible securities on preferential basis, subject to approval of the shareholders of the company and receipt of applicable regulatory approvals, as may be required.SpiceJet is a low-budget air carrier. The airline operates a fleet of Boeing 737s, Q-400s & freighters and is the countrys largest regional player operating 63 daily flights under UDAN or the Regional Connectivity Scheme. The airline also operates a dedicated air cargo service under the brand name SpiceXpress offering cargo connectivity across India and on international routes.The companys consolidated net profit jumped 160.1% to Rs 110.48 crore on 2.7% increase in net sales to Rs 2263.41 crore in Q4 FY23 over Q4 FY22.

SpiceJet gains as board to mull fund raising

SpiceJet will hold a meeting of the Board of Directors of the Company on 12 July 2023.

SpiceJet to hold board meeting

The Board of SpiceJet will meet on 12 July 2023 to consider and approve, inter-alia, options for raising fresh capital through issue of equity shares andor convertible securities on preferential basis, in accordance with the relevant provisions of applicable laws and subject to approval of the shareholders of the Company and receipt of applicable regulatory approvals, as may be required. 

 Board of SpiceJet to consider fund raising via equity route 

SpiceJet seems to have reacted to the stake sale, falling 14 percent to Rs 24.16 on the BSE.

Bulk Deals: Nuvama Wealth Finance offloads over 1.1% in SpiceJet, Norges Bank buys Rs 133.7 cr shares in Syrma SGS

The airline had earlier revised salaries for its pilots in November 2022 wherein the salary of Captains had been raised to Rs 7 lakh a month for 80 hours of flying.

SpiceJet hikes salary of pilots, Captains to now receive Rs 7.5 lakh per month

SpiceJet Ltd. engages in the provision of air transport services for the carriage of passengers and cargo and other allied activities. It operates through the Air Transport and Freighter and Logistics Services segments. The Air Transport segment is involved in the inter alia, passenger transport, and ancillary cargo operations arising from passenger aircraft operations. The Freighter and Logistics Services segments focuses on the cargo services. The company was founded on February 9, 1984 and is headquartered in Gurgaon, India.

Watchers	80
52-Wk Low	26.25
52-Wk High	54.90

Market Cap	19.08B
Volume (M)	1.72M
52-Wk High	54.90
52-Wk Low	26.25

SPICEJET.NSE Spicejet Ltd

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