India’s SpiceJet settles with MAX lessor CDB Aviation

SpiceJet (SG, Delhi Int’l) announced in a stock exchange filing on September 13 that it had settled with CDB Aviation, another lessor of the Boeing MAX, and anticipated resuming commercial operations with the aircraft by the end of September.

The airline said in its brief statement that “it has commercially agreed a settlement with CDB Aviation, another major lessor of MAX aircraft. This will add to the already announced settlement with Avolon and [will allow SpiceJet to] grow its fleet of B737 MAX aircraft. The airline expects to start operations of MAX aircraft around the end of September 2021, subject to regulatory approvals.”

SpiceJet, India’s second-biggest airline by market share, took delivery of thirteen B737-8s between September 2018 and when the MAX was grounded worldwide in March 2019, the ch-aviation fleets advanced module shows, with a further 133 of the type to be delivered. Five of the thirteen aircraft are currently stored at Delhi Int’l, two at Chennai, two at Ahmedabad, and one each at Bangalore Int’l, Hyderabad Int’l, Kolkata Int’l, and Mumbai Int’l. CDB Aviation leases five of the thirteen to the carrier, BOC Aviation three, Avolon and Goshawk two each, and GECAS one.

SpiceJet is the only airline in the country with MAX aircraft, although start-up Akasa Air has said it will proceed with a plan to place orders for the aircraft. SpiceJet said last month that it expected its MAX jets to return to service at the end of September, following a similar settlement with lessor Avolon.

India’s civil aviation regulator, the Directorate General of Civil Aviation (DGCA), announced on August 26 that it had cleared B737-8 and B737-9 aircraft to take to the skies with immediate effect. MAX grounding orders have already been lifted in large markets such as the United States, Europe, Australia, Japan, and Malaysia, leaving China as the biggest market yet to approve it.