SpiceJet Partners With FTAI Aviation To Lease Engines, Aims To Restart Grounded Aircraft

SpiceJet (SPJT.NS) of India announced on Thursday that FTAI Aviation (FTAI.O) will lease up to 20 engines, the first few of which would be used to restart some of its grounded aircraft over the next 2-3 months.

The collaboration with the engine services provider based in the United States "will reduce maintenance expense and minimise aircraft downtime, enhancing the airline's overall performance," Spicejet said in a statement.

Spicejet

The Gurugram-based airline announced last month that it has begun reviving 25 of its grounded fleet with its own funds and a $50 million line of credit secured through an Indian government initiative.

SpiceJet has also stated that it had no plans to declare bankruptcy, assuaging fears of a spillover after rival Go Airlines (India) declared voluntary bankruptcy.

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