Dublin Lessors Seek Repossession of Four SpiceJet Boeing 737 MAX 8 Aircraft
In Mumbai, Dublin-based aircraft lessors have approached India’s Directorate General of Civil Aviation (DGCA) seeking the urgent de-registration and repossession of four Boeing 737 MAX 8 aircraft leased to SpiceJet.
The lessors, Sky High LXXX Leasing Company Ltd and Sky High LXXVII Leasing Company Ltd, filed the requests under the Irrevocable Deregistration and Export Request Authorisation (IDERA) framework. The specific aircraft facing export are registered under the tail numbers VT-MXA, VT-MXC, VT-MAX, and VT-MXB. Two of these planes are currently grounded in Hyderabad, while Delhi and Amritsar hold one grounded aircraft each.
The IDERA framework, established under the international Cape Town Convention, allows lessors to bypass protracted legal battles and directly petition national regulators to reclaim assets if an airline defaults on its contractual obligations.
SpiceJet downplayed the regulatory filing, stating that all four aircraft have already been grounded for a prolonged period due to high pressure turbine manufacturing issues with their engines. A spokesperson for the airline stated that the de-registration of these aircraft will eliminate lease rental costs on non-operational assets. The airline maintained that there is no impact on its current flight operations, and that it remains in discussions with the lessors and the original equipment manufacturer regarding the return of these planes to service.
However, the move highlights the severe fleet constraints plaguing SpiceJet. The carrier currently operates a nominal fleet of just 21 active aircraft, with dozens of planes parked due to maintenance issues, parts shortages, and cash flow constraints.
This fleet reduction has impacted SpiceJet's competitiveness. The airline's domestic market share fell to 2.5% in May, while its international share for the first quarter of 2026 stood at 1.42%.
Additionally, SpiceJet registered an on-time performance rate of just 26.5% at ten major Indian airports for the month of May, falling behind rivals like IndiGo and Akasa Air, which maintained markers above 75%.
