Shares of SpiceJet flew 5.5% to an intraday high of Rs 64.86 on BSE after the company entered into a pact with Carlyle Aviation Management to restructure debt.
In an exchange filing the company said, SpiceJet and Carlyle Aviation Management Limited have entered into a term sheet to restructure certain aircraft lease obligations of SpiceJet aggregating to $137.68 million (as of June 30, 2024), which upon settlement/waivers will be adjusted to $97.51 million, owed to various lessor entities managed by CAML or its affiliates.
Also, according to new reports, SpiceJet promoter and chairman Ajay Singh may offload more than a 10% stake as part of the latest funding round that is expected to close by the end of September.
The stock of the budget carrier has flown 0.54% in the last five days. While it gave a return of 6.7% in the last month. The has given a return of 4% in the past six months. The stock of SpiceJet has risen 58% in one year.
At the same time, the benchmark index Sensex has given a erased 1.2% of investors’ wealth in the last five days. However, it has given a return of more than 2% in the past one month. The index is up a bit over 10% in the last six months.