Two SpiceJet lessors in talks to reclaim planes over missed payments – sources

Two lessors to carrier SpiceJet are in talks to terminate contracts and repossess planes via mutually agreed deals with the airline over missed payments, according to two sources directly involved in the discussions.

One of the leasing companies started to pull out a few planes earlier this year after SpiceJet failed to pay maintenance fees due since late last year and lease rentals since last month, said one source, adding that talks were continuing over other jets.

The second lessor began discussions, which are ongoing, last month just as the coronavirus pandemic started crippling the airline industry, according to the second source.