SpiceJet Drops 2% After UK Court Orders $8mn Payment
Shares of SpiceJet Limited slid nearly 2.4% to Rs 11.41 in early trade on 10 April after London’s Commercial Court ordered the airline to pay around $8 million (roughly Rs 70 crore) to an aircraft engine lessor, touching a session low of Rs 11.30 on BSE before buyers stepped in.... The post SpiceJet Drops 2% After UK Court Orders $8mn Payment appeared first on Equitypandit.
Shares of SpiceJet Limited slid nearly 2.4% to Rs 11.41 in early trade on 10 April after London’s Commercial Court ordered the airline to pay around $8 million (roughly Rs 70 crore) to an aircraft engine lessor, touching a session low of Rs 11.30 on BSE before buyers stepped in.
The UK court granted summary judgment in favour of Sunbird France 02 SAS, ruling that SpiceJet had no realistic prospect of defending the claim. The airline never filed a defence or participated in the proceedings despite being given adequate opportunity to do so. Unpaid lease rent dating from January 2022 and maintenance accruals going back as far as November 2020 were at the heart of the dispute.
Sunbird issued default notices in July 2022 and repossessed all three engines between late 2022 and mid-2023. Lessors are now expected to approach the Delhi High Court to seek enforcement of the UK ruling, which could escalate financial pressure on the carrier further.
The stock did not stay down. After touching a session low of Rs 11.30, SpiceJet reversed course sharply, swinging nearly 8.58% intraday from trough to peak on the back of two consecutive upper circuit sessions in which the stock had gained over 10%.
Despite the short-term momentum, the financial backdrop remains challenging. SpiceJet’s auditors have flagged material uncertainty over the airline’s ability to continue as a going concern, citing persistent losses and a mismatch between current liabilities and assets. For Q3 FY26 (December 2025 quarter), the Gurugram-based carrier posted a net loss of Rs 269.27 crore on revenue of Rs 1,384.31 crore.
It’s trading at Rs 12.27 on BSE as of 11:36 am on 10 April, up Rs 0.58 from its previous close of Rs 11.69, with over 2.01 crore shares traded. Over the past year, SpiceJet shares have shed 72% against a Sensex gain of 4.68%, with the 52-week range standing at Rs 9.53 to Rs 56.80.
Ready to invest like a pro? Tradz by EquityPandit app equips you with 100+ Free tools and knowledge you need to succeed. Download the Tradz by EquityPandit app and gain access to daily stock lists and insightful market analysis and much more!
The post SpiceJet Drops 2% After UK Court Orders $8mn Payment appeared first on Equitypandit.
What's Your Reaction?
