MUMBAI- Indian Low cost carrier SpiceJet (SG) has announced a partnership with FTAI Aviation, a US based engine services provider, to lease up to 20 engines for fleet revival.
This move comes as the low-cost carrier plans to reactivate some of its grounded fleets within the next 2-3 months. Further, the collaboration aims to reduce maintenance expenses and minimize aircraft downtime, ultimately enhancing the overall performance of SpiceJet.
SpiceJet Collaborates with FTAI for Fleet Revival
SpiceJet highlighted the significance of the partnership with FTAI Aviation in a statement. Further, the airline can now revive 25 grounded aircraft by securing access to the engines.
This effort is being funded through a combination of the airline’s own capital and a $50 million line of credit obtained through an Indian government scheme. Further, the strategic decision to lease engines from FTAI Aviation underscores SG’s commitment to efficiently restoring its operations.
By leveraging the expertise and resources of the engine services provider, the airline aims to swiftly and effectively address its fleet’s maintenance and operational requirements.
This development brings relief to stakeholders, as SpiceJet reassures that it has no plans to file for insolvency. Subsequently, the assurance follows concerns raised after its competitor, Go First (G8), recently filed for voluntary bankruptcy.
With SpiceJet’s proactive measures to revive its grounded fleet and the collaboration with FTAI Aviation, the airline demonstrates its determination to navigate through challenging times.
SpiceJet’s collaboration with FTAI Aviation is a strategic step towards optimizing its resources and improving its performance. Thereafter, the airline can expedite the revival process. Further, enhance its operational capabilities by securing the necessary engines.
This partnership is expected to positively impact SG’s overall efficiency and customer service. As SpiceJet sets its sights on revitalizing its grounded fleet, the collaboration with FTAI Aviation stands as a testament to the airline’s resilience and commitment to delivering quality services to its passengers.
With the support of this partnership, SpiceJet aims to soar to new heights in the Indian aviation industry.
SpiceJet Returned Corendon Boeing 737s
The Indian carrier added eight Boeing 737s on wet lease from Corendon in the last quarter of 2022 and one in Jan 2023. Subsequently, to fulfill the high travel demand created by festive seasons.
The airline took delivery of the first Boeing 737 MAX on a wet lease from XC in Oct 2022. Further, the aircraft has the registration TC-MKD and is only a nine-month-old airliner.
The airline then added four more Boeing 737 MAX and One 737-800 in Oct 2022. The MAX plane has the TC-MKF, TC-MKC, TC-MKE, and TC-MKB registration, and 737-800 has the TC-TJR registration.
Subsequently, the airline added the remaining one 737-800 in Nov 2022 and one in 737-800 in Jan 2023. The 737-800 was taken on lease from the Corendon European division in Jan 2023 and has the registration 9H-TJC, while the other has TC-COH in Nov.
However, the airline returned them due to financial woes it has recently faced amid court cases and disagreements with lessors.
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