SpiceJet shares hit the 5% upper circuit for the third straight session on Friday, April 10, on value buying even as a UK court ordered the airline to pay about $8 million (around ₹70 crore) to an aircraft engine lessor.
Just in today’s deals, the hit its 5% upper circuit of ₹12.27 per share on BSE.
Despite the recent rally, stock is still over 78% away from its 52-week high of ₹56.80, hit in April 2025. Meanwhile, it touched its 52-week low of ₹9.53 earlier this month, on April 2, 2026.
In the 3 sessions, the stock has advanced as much as 15.6%. The stock fell over 39% in March on the back of rising due to escalating tensions in the Middle East. However, in April so far, it has rallied 26%.
However, in the last 3 months, the stock has crashed 55% while it has tanked 72% in the last 1 year and lost 83% of its investor wealth in the past 5 years.
UK Court Setback
London’s Commercial Court granted summary judgment in favour of Sunbird France 02 SAS, directing SpiceJet to clear unpaid lease rentals and maintenance dues. The court observed that the airline had no realistic prospect of defending the claim and did not participate in the proceedings despite multiple 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 subsequently repossessed three engines between late 2022 and mid-2023.
Following the ruling, lessors are expected to approach the Delhi High Court to enforce the UK order, potentially adding to the airline’s financial strain. The development comes at a time when SpiceJet continues to face balance sheet pressures, with auditors flagging concerns over its ability to continue as a going concern due to sustained losses and a mismatch between liabilities and assets.
The ruling comes as SpiceJet remains under financial strain following the Boeing 737 MAX grounding and COVID-19 pandemic, and losing market share to rivals such as Akasa Air.
SpiceJet Q3 Results 2026
SpiceJet reported a return to losses for the quarter ended December 31, with consolidated net loss widening to ₹261 crore, compared with a profit of ₹20.4 crore in the same period last year, according to an exchange filing.
Despite the loss, the airline posted steady top-line growth, with revenue from operations rising 13.8% year-on-year to ₹1,408 crore from ₹1,237 crore.
Operating performance, however, remained under pressure, with EBITDA loss coming in at ₹128 crore, compared with a loss of ₹81 crore in the corresponding quarter last year, indicating higher cost pressures.
“This quarter reflects the progress we have been working steadily towards. Higher revenues, improving yields and a sharp reduction in losses demonstrate that our operational strategy is delivering results,” said Ajay Singh, Chairman and Managing Director of SpiceJet.
He added that while legacy costs and external factors continue to weigh on expenses, the airline’s core business is showing signs of improvement.
(With input from Reuters)
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.