SpiceJet (SPJT.NS), an Indian low-cost carrier, announced on Thursday that FTAI Aviation (FTAI.O) will lease it up to 20 engines, the first few of which would be used to restart some of its grounded fleet over the following two to three months.
Spicejet stated in a statement that the collaboration with the US-based engine services company “will lower maintenance expense and minimise aircraft downtime, enhancing the airline’s overall performance.”
The airline with its headquarters in Gurugram announced last month that it had started to repair 25 of its grounded fleet using its own funds and a $50 million line of credit that it had obtained through an Indian government program.
In order to allay concerns about a domino effect following the voluntary bankruptcy filing of rival Go Airlines (India), SpiceJet likewise stated that it has no plans to declare bankruptcy.
