GURUGRAM- SpiceJet (SG) is preparing to return around 10 grounded aircraft to service by April 2026, including 4–5 aircraft in early winter to meet peak season demand.
The grounded jets, stationed at airports across India (DEL, BOM, HYD), include Boeing 737 NG, Boeing 737 MAX, and Q400 aircraft, which have added to the airline’s rent and maintenance liabilities.
The carrier has already secured engine overhaul and maintenance slots and dispatched 19 engines worldwide for repair. With the first overhauled units already back in service, SpiceJet (SG) expects a steady flow of engines that will accelerate the restoration of its fleet.
Photo: avgeekwithlens/ Harsh TekriwalSpiceJet to Unground 10 Aircraft
According to regulatory filings, SpiceJet has sent 19 engines for repair, including seven from Boeing 737 NG aircraft, six from Boeing 737 MAX aircraft, and six from Q400 aircraft. These were dispatched to facilities in the US, Singapore, and through Carlyle Aviation, which is supporting the revival of grounded Boeing 737 NGs.
In July, the airline received its first two overhauled engines: a CFM LEAP-1B engine for the Boeing 737 MAX from StandardAero’s Houston, USA facility, and one Q400 engine from StandardAero’s Singapore site. This marked the start of a phased return of engines that will allow more aircraft to rejoin service over the coming months.
In addition to restoring existing aircraft, SpiceJet has finalized a lease agreement for ten Boeing 737s. These aircraft will be inducted under damp lease arrangements by October 2025, adding further capacity ahead of the winter schedule.
This step ensures the airline has adequate resources to handle growing travel demand, particularly during the high-traffic winter and early summer seasons.
Photo: avgeekwithlens/ Harsh TekriwalCurrent Fleet and Operational Challenges
As of June 30, 2025, SpiceJet operated a fleet of 56 aircraft, with 21 of them grounded. In comparison, the airline had 61 aircraft at the end of March 2025, of which 25 were operational.
The airline reported a net loss of Rs 238 crore in Q1 FY26, compared to a net profit of Rs 150 crore in Q1 FY25.
Management attributed the losses to geopolitical tensions with a neighboring country, restricted airspace in key markets, and subdued leisure travel demand. These factors, combined with delays in restoring grounded aircraft, contributed to weaker performance.
Photo: SpiceJet Boeing 737 MAX 8 VT-MAX | Vienna Airport 29.9.2018 | FlickrFinancial Position and Capital Raising
In September 2024, SpiceJet raised Rs 3,000 crore through a Qualified Institutional Placement (QIP), which was oversubscribed by investors. As of March 2025, Rs 300 crore from the raised funds remained unutilized.
According to Chairman and Managing Director Ajay Singh, this capital will be directed toward ungrounding aircraft, acquiring new planes, investing in technology, and expanding into new markets.
The airline also restructured its lease obligations worth $121.18 million with Carlyle Aviation Management Limited.
In FY25, SpiceJet’s net worth stood at Rs 683 crore, supported by an equity infusion of Rs 500 crore from the promoter group.
Photo: SpiceJetBottom Line
SpiceJet (SG) faces the dual challenge of managing financial pressure and restoring fleet strength.
The airline’s decision to unground aircraft, induct new leases, and restructure obligations indicates a focus on rebuilding capacity and stabilizing operations.
The upcoming winter and summer seasons will test whether these measures translate into improved performance and help offset recent losses.
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SpiceJet Airlines to Lease 5 Boeing 737 for Winter 2025
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