Wilmington Trust, one of SpiceJet’s aircraft lessors, has moved the National Company Law Tribunal (NCLT) to initiate an insolvency process against the airline for non-payments of dues. The first hearing of this case will take place on Monday.
Wilmington Trust is an affiliate of Aircastle, which had last month filed a similar case at the NCLT. During this case’s ongoing hearings, SpiceJet said that Aircastle’s petition had defects and it could not be maintained. Consequently, the NCLT on June 6 asked Aircastle to submit its reply to SpiceJet’s rejoinder within two weeks.
On Sunday, a SpiceJet spokesperson told Business Standard, "Wilmington Trust’s parent is Air Castle. Each of the four aircraft leased by Air Castle had a separate entity. One such aircraft was from Wilmington Trust, an affiliate of Air Castle.”
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