SpiceJet is removed from the heightened surveillance regime by the aviation regulator

 SpiceJet is removed from the heightened surveillance regime by the aviation regulator

After inspecting the airline's fleet, DGCA declares that "suitable maintenance action" has been performed. According to India's aviation regulator, SpiceJet has taken "suitable maintenance action" and has been withdrawn from its so-called enhanced surveillance.

The airline's fleet, which consists of Boeing 737 and Bombardier DHC Q-400 aircraft, was subject to 51 inspections by the Directorate General of Civil Aviation (DGCA) in 11 locations around India.

The DGCA crews examined 23 aircraft in all and made 95 observations. The DGCA did not consider the findings to be noteworthy because they were of a regular nature.

On June 22, SpiceJet was placed under observation as a result of occurrences involving jet malfunctions during the monsoon season the previous year. Between June 19, 2022, and July 6, 2022, the airline reported at least eight instances of technical breakdown; as a result, the DGCA ordered it to run 50% of its planned flights. At midnight on October 21, 2022, the cap was lifted.

The regulator will do more spot inspections as part of the increased surveillance, particularly at night. According to DGCA data, SpiceJet's domestic passenger market share decreased from 5.4% in May to 4.4% in June.

On July 7, the Supreme Court denied SpiceJet's request to extend the deadline for paying media mogul Kalanithi Maran and his Kal Airways Rs 380 crore in interest in a share-transfer dispute case. On July 10, Kal Airways stated that a peaceful resolution with SpiceJet was out of the question and demanded that the airline pay the court-ordered interest sum.

Ajay Singh, SpiceJet's chairman and CEO, was also ordered by the Delhi High Court on Monday to appear in person at the subsequent hearing on September 5.

This was in response to a request for an immediate hearing of their enforcement petition made by Kal Airways and Kalanithi Maran.

Additionally, SpiceJet and Singh have been warned by the court to provide an affidavit outlining their assets prior to the next hearing. Additionally, Singh has made public his intention to inject Rs 500 crore into the financially distressed airline through the subscription of new equity shares and/or convertible instruments.

From Rs 1,030 crore in FY21 to Rs 1,744 crore in FY22, the airline's combined net loss increased. As a result of the "medical incapacitation" of a significant audit committee member, it has not yet disclosed FY23 results.