As the insolvency issue of SpiceJet heats up, prior red-flagging to the company by the Directorate General of Civil Aviation (DGCA) had pointed out long awaited trouble for the aviation giant.
SpiceJet is facing bankruptcy proceedings as Ireland-based aircraft lessor Aircastle Ltd has moved the principal bench of the NCLT to launch a bankruptcy process against the airline. 📰 SpiceJet Insolvency Row: DGCA s Early Red-Flagging Points Out Long Awaited Trouble For Aviation Giant.
On May 8, a two-member Principal bench of the NCLT headed by President Ramalingam Sudhakar issued the notice to SpiceJet and directed it to list the matter on May 17 for the next hearing.