SpiceJet finalises lease agreement to induct 5 Boeing 737 aircraft

SpiceJet has finalised a lease agreement to induct five Boeing 737 aircraft. These aircraft are scheduled to join the airline’s fleet in October 2025, ahead of the commencement of the winter schedule, and will cater to the peak winter season as well as the early summer season of 2026.

The aircraft are being inducted on a damp lease basis, where operational crew will be shared between the operator and SpiceJet, the low-cost carrier said.

This fleet addition is part of the airline’s broader strategy to bolster capacity ahead of the winter schedule and cater to increased travel demand during the peak and early summer seasons. SpiceJet is also in advanced discussions with other lessors to further enhance its fleet and strengthen both domestic and international operations.

“We are pleased to finalise this lease agreement for the induction of five Boeing 737 aircraft. This addition will significantly strengthen our fleet and enable us to deliver a superior flying experience to our passengers. We are actively exploring further fleet additions as we prepare for a robust winter schedule,” said Debojo Maharshi, Chief Business Officer, SpiceJet.

This comes at a time when SpiceJet’s domestic market share has plunged to 1.9% in June 2025 from over 5% in June 2023.

Earlier this week, the Supreme Court dismissed the appeal filed by KAL Airways and Kalanithi Maran seeking damages of more than ₹1,300 crore from SpiceJet. “These assertions were already previously rejected by the Arbitral Tribunal, the Delhi High Court and then the Division Bench of Delhi High Court,” the no-frills carrier said.

“With this order, the appeals of KAL Airways and Kalanithi Maran have been finally dismissed and the remaining issue to be decided by the Court is SpiceJet’s appeal challenging the (i) interest levied which has also been substantially deposited by SpiceJet in the Court; and (ii) pre-mature refund of CRPS amount by the Arbitral Tribunal,” the low-cost airline said.

Maran, the former promoter of SpiceJet, along with KAL Airways, approached the Supreme Court earlier this month to contest the Delhi High Court’s May 23 ruling. However, a bench comprising Justice P. S. Narasimha and Justice A. S. Chandurkar rejected their special leave petition.

The dispute between the two dates back to 2015 when Maran approached Ajay Singh, SpiceJet’s current chairman and managing director, who had been associated with the airline previously.