A Chinese aircraft leasing company has formally requested India’s Directorate General of Civil Aviation (DGCA) to deregister and repossess four Boeing planes belonging to SpiceJet, according to livemint.com. The move initiates the repossession process under the Irrevocable De-registration and Export Request Authorisation (IDERA) mechanism. The affected aircraft have been grounded and out of service for some time.
The DGCA published notices on Monday regarding the repossession requests from two Dublin-based lessors, including Sky High LXXVIII Leasing. A spokesperson for SpiceJet told Mint that this action would not impact the airline’s current operations, as the planes involved have not been in use. The lessors are exercising their rights to reclaim the aircraft under existing lease agreements.
This development highlights ongoing challenges in the Indian aviation sector, where lessors have increasingly sought to repossess aircraft amid financial stress faced by carriers. Similar repossession cases have been reported in recent years, reflecting tightening credit conditions and operational difficulties for airlines. The use of the IDERA mechanism allows lessors to deregister aircraft swiftly to facilitate their recovery.
The DGCA’s notices mark the official start of the deregistration process for these four Boeing aircraft. SpiceJet continues to operate its remaining fleet without disruption, as confirmed by the airline’s spokesperson in the statement to Mint.