Dublin-based Aircastle seeks insolvency proceedings against SpiceJet

The next and latest in line after Go First, SpiceJet airline is facing bankruptcy proceedings as the Ireland-based aircraft lessor Aircastle Ltd has moved the principal bench of the National Company Law Tribunal (NCLT) to launch a bankruptcy process against the airline.

Agreeing to hear the lessor’s plea, a two-member bench of the NCLT issued a notice to the airline and posted the matter for further consideration on May 17.

The bench led by NCLT President Ramalingam Sudhakar directed SpiceJet to attend the hearing on the given date.

Claiming default in dues payment, Aircastle has sought initiation of corporate insolvency proceedings against SpiceJet.

A spokesperson for SpiceJet commented that the notice was issued routinely in connection with the Aircastle matter.