10 Apr , 2026 By : Debdeep Gupta
SpiceJet shares hit the upper circuit for the third consecutive session on Friday, recovering from early losses even as a UK court ordered the airline to pay about $8 million (around Rs 70 crore) to an aircraft engine lessor. The stock was locked in the 5 percent upper circuit at Rs 12.27 around 10 am, extending its recent rally despite the adverse legal development.
The sharp rebound comes after the stock had briefly slipped in early trade, before buyers returned and pushed it back to the upper circuit level, indicating continued momentum-driven interest in the counter.
London’s Commercial Court had granted summary judgment in favour of Sunbird France 02 SAS, directing SpiceJet to clear unpaid lease rentals and maintenance dues. The court noted that the airline had no realistic prospect of defending the claim and had chosen not to participate in the proceedings despite being given opportunities.
The dues relate to unpaid rent from January 2022 and maintenance accruals dating back to November 2020. The lessor had issued default notices in July 2022 and repossessed three engines between late 2022 and mid-2023.
Following the ruling, lessors are expected to approach the Delhi High Court to seek enforcement of the UK court’s order, which could add to the airline’s financial pressures.
The development comes amid ongoing stress at SpiceJet, with the airline continuing to face balance sheet constraints. Auditors have flagged concerns over its ability to continue as a going concern, citing sustained losses and a mismatch between liabilities and assets.
Despite these concerns, the stock has seen a sharp near-term rally, hitting upper circuits in three consecutive sessions. Over the past three days alone, the stock has surged over 15 percent.
However, the broader trend remains weak. SpiceJet shares are still down about 74 percent over the past one year, significantly underperforming the benchmark Nifty 50, which has gained around 4.1 percent during the same period.
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