India’s SpiceJet inks 50-jet sale/lease-back deal

SpiceJet (SG, Delhi Int’l) has announced that it has entered into a Memorandum of Understanding (MoU) with Avenue Capital Aircraft Holdings covering the sale and lease-back of up to 50 aircraft that have yet to be delivered to the Indian carrier. “This alliance will ensure a seamless induction of the planes in our fleet and help us plan better for the long term,” Chairman and Managing Director Ajay Singh said. The press release did not identify which aircraft would be subject to the transaction. According to the ch-aviation fleets advanced module, SpiceJet currently has unfilled firm orders with Boeing for 129 B737-8s, although the transaction could cover as-yet-unannounced commitments. SpiceJet did not respond to ch-aviation’s request for comment. The ch-aviation fleets ownership module indicates that Avenue Capital owns none of the 86 dry-leased aircraft operated by SpiceJet. The lessor’s sole asset leased to an Indian carrier is a single A320-200N operated by IndiGo Airlines (6E, Delhi Int’l).