SpiceJet halts 737 MAX operations, market share at 1.6%
SpiceJet has ceased Boeing 737 MAX operations after mutually terminating a lease agreement with BOC Aviation and is shipping three planes off to the Philippines.
Now, the airline is left with only 11 working aircraft, part of its ongoing struggle to stay afloat, which has pushed its market share down to just 1.6% in July.
SpiceJet seeks Delhi court ₹50cr extension
Things aren't getting easier for SpiceJet. The airline recently asked Delhi High Court for more time to pay ₹50 crore in a dispute with former promoter Kalanithi Maran, blaming delays on slow loan payouts.
Some lessors have taken back planes over unpaid rent and even filed insolvency cases.
Meanwhile, flight punctuality has slipped badly: only 35% of flights were on time last July, putting SpiceJet at the bottom among Indian airlines.