Will SpiceJet lose 4 Boeing 737 MAX aircraft?
What's the story
China's Industrial and Commercial Bank of China (ICBC) has moved India's Directorate General of Civil Aviation (DGCA) for the deregistration and repossession of four Boeing 737 MAX aircraft leased to SpiceJet. The request was made by two Dublin-based lessors, Sky High LXXVIII Leasing Co. Ltd and Sky High LXXX Leasing Co. Ltd. They are both owned by ICBCIL Aviation Co, a subsidiary of ICBC Financial Leasing Co, which is wholly owned by ICBC.
Airline's statement
SpiceJet to remove lease rental costs
In response to the deregistration request, a SpiceJet spokesperson said that the four aircraft in question have been out of service for a long time due to engine high-pressure turbine manufacturing issues.
The spokesperson added that deregistering these planes will remove lease rental costs on non-operational assets and won't affect the airline's operations as they have been grounded for some time now.
Current situation
Only 11 operational aircraft for SpiceJet
According to aviation database website Planespotters.net, SpiceJet has only 11 operational aircraft, while 42 are parked.
The airline has been facing losses and cash flow issues. For the first nine months of FY26, it reported a standalone net loss of ₹1,138.15 crore as compared to ₹266.8 crore in the same period last year.
Its standalone revenue from operations for the period ending December 31, 2025 stood at ₹3,271.5 crore, 14% lower than last year.
Market presence
Airline's domestic market share less than 3%
As per DGCA's latest data from May, SpiceJet's domestic market share is less than 3%.
UK-based aviation analytics firm OAG's data shows the airline has 1,855 scheduled domestic departures in July, 28% lower than last year's 2,578 departures.
The decline indicates continued strain on its operations amid ongoing financial challenges and fleet restrictions.