spicejet parked max
SpiceJet has agreed with StandardAero Inc., a U.S.-based engine MRO (maintenance, repair, and overhaul) provider for CFM LEAP-1B engines, to restore some of its grounded Boeing 737 MAX fleet.
The financial-strained airline, which recently raised $300 million, said in a Friday statement that CFM International would provide material and support services for these LEAP-1B engines as part of the deal.
This agreement will help it return three Boeing 737 MAX aircraft into service by April 2025.
Ajay Singh, Chairman and Managing Director of SpiceJet, said, “We are pleased to announce this important milestone in our fleet restoration efforts. The collaboration with StandardAero, CFM International and the lessor is a testament to our commitment to make progressive moves and ensuring the timely return to service of our aircraft. The return of three fuel-efficient 737 MAX aircraft will not only strengthen our operations but also provide a significant boost to our financial health.”
Lewis Prebble, President – Airlines & Fleets for StandardAero Inc., said, “We are delighted to partner with SpiceJet and contribute towards their impressive and extraordinary journey of recovery. We look forward to expanding our relationship by providing MRO services supporting LEAP-1B engines, as well as collaborating on their other fleet types.”
In the past two months, SpiceJet has said it has resolved disputes with multiple prominent lessors, including Export Development Canada, Engine Lease Finance Corporation, Babcock & Brown Aircraft Management, Aircastle (Ireland), Wilmington Trust SP Services (Dublin) Limited, Shannon Engine Support Limited, and Genesis and has added more than 50 new flights.
Pre-COVID, SpiceJet had crossed the 100-plane fleet mark as it took planes from bankrupt Jet Airways to grow fast, but this expansion and the pandemic piled up debt on its balance sheet, leading to dozens of court cases owing to non-payment.
The Gurugram-based airline, whose market share has also shrunk to a low single-digit from double-digit in the past, currently flies around 28 planes, a mix of Boeings and Q400s. It hopes to be a 35-plane airline by March and 70 by the next fiscal year.
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