SpiceJet has received another boost to its financial credibility, with Acuité Ratings & Research upgrading the airline’s long-term credit rating to BB (Stable) from BB- (Stable). This marks the company’s second upgrade in just a month, underlining its improved liquidity, stronger financial discipline, and clear operational roadmap. The short-term rating has been reaffirmed at A4+.

The upgrade comes after Acuité considered fresh details provided by the airline. Earlier, the rating agency had already raised SpiceJet’s rating to BB- (Stable). The latest revision reflects greater confidence in the airline’s turnaround efforts, including new aircraft inductions, settlements with key lessors, and structured financial planning.

A major driver of the improved outlook is SpiceJet’s revival strategy. The airline is preparing to induct new leased aircraft, nearly triple its daily flights to around 280, and return grounded planes to service. A recent settlement with Carlyle Aviation Partners is also expected to strengthen liquidity by offering cash credits for future maintenance, while restructuring lease debt by converting part of it into airline ownership.

Acuité noted the importance of SpiceJet’s seasoned leadership in shaping this progress. Chairman and Managing Director Ajay Singh, with over 15 years in aviation, has been credited with steering past turnarounds and strengthening the company’s growth path. The agency also highlighted the airline’s diversified revenue model as a strong foundation for long-term resilience.

Sharing his views on the development, Debojo Maharshi, Chief Business Officer at SpiceJet, said:

“The back-to-back upgrades in our credit ratings are a strong validation of SpiceJet’s consistent efforts to strengthen its financial foundation and build a resilient future. With fresh aircraft inductions, restructured agreements with lessors, and a focused strategy on growth and profitability, SpiceJet is well positioned to expand operations, enhance customer experience, and create long-term value for all stakeholders.”

Acuité further added that SpiceJet’s diversified revenue streams and expanding fleet capacity are set to support the airline’s revenue profile in the near to medium term, reflecting a positive outlook for India’s aviation market.

Air India Express has become a member of the International Air Transport Association (IATA), a significant step that enhances its global profile and underscores its commitment to international safety and operational standards.

The membership provides the airline access to IATA’s settlement systems and the opportunity to actively participate in shaping global aviation policies, supporting its expansion across both domestic and international markets. IATA represents about 350 airlines from over 120 countries, accounting for more than 80 per cent of global air traffic.

To qualify, airlines must successfully complete the IATA Operational Safety Audit (IOSA), which involves compliance with over 900 standards. Air India Express has been IOSA-registered since 2017.

Welcoming the airline, Sheldon Hee, Regional Vice President for Asia Pacific, IATA, said, “We welcome Air India Express into the IATA family. Air India Express has been on the IOSA registry since 2017, and we are glad that they have taken the next step to become an IATA member. Having Air India Express as a member broadens the perspectives that we can bring to the global issues affecting our industry.”

Aloke Singh, Managing Director, Air India Express, commented, “Becoming a part of the IATA family is a proud moment for us. It highlights our commitment to enhance our global standing, assuring our guests of world-class standards, and facilitates access to global partnerships. As we continue to grow our footprint, IATA membership is an additional step taken by Air India Express to ensure that every journey is supported by the highest standards of reliability, safety, and convenience.”

The membership also allows Air India Express to participate in IATA’s Billing and Settlement Plans (BSP), enabling wider distribution through accredited travel agents and strengthening its international reach.

Currently operating a fleet of 115 aircraft with over 500 daily flights to 41 domestic and 17 international destinations, including key markets in the Middle East, Southeast Asia, and the Indian subcontinent, Air India Express is rapidly growing. With IATA membership, the airline further strengthens its role as one of India’s fastest-growing carriers, offering enhanced reliability and global connectivity built on internationally recognised standards.

Thiruvananthapuram International Airport is moving closer to a major transformation, with the Union environment ministry’s expert appraisal committee (EAC) recommending environmental clearance for a ₹136 crore city-side development project. The initiative, planned by Adani Airport Holdings Ltd (AAHL) at Chackai within the airport grounds, aims to reshape the capital city’s gateway into a modern hospitality and commercial hub.

The project will feature a 240-room luxury hotel, expansive food and beverage areas with over 600 seats, and world-class infrastructure across nearly 34,000 sq. m. Spread over two basements, a ground floor and four upper floors, the complex will rise up to 23 metres. Once clearances are finalized, the hotel is expected to come under a global five-star brand such as Marriott, Hilton or Intercontinental.

This city-side facility is part of the larger terminal expansion plan, "Project Anantha" The project faced delays after the state environment impact assessment authority (SEIAA) sought changes in the basement design, citing environmental risks. The revised proposal has now cleared hurdles, and with pending cases moved to the Ministry of Environment, Forest and Climate Change (MoEFCC), the project is finally back on track.

Construction could begin within three months. Alongside enhancing airport facilities, the project is expected to generate around 300 direct jobs and nearly 900 indirect employment opportunities. “The project will not just address rising accommodation needs but also give a strong push to Kerala’s hospitality sector,” said a source close to the airport.

The EAC has attached strict environmental safeguards. Construction will rely on recycled water and rainwater harvesting. Once operational, the complex will need 318 KLD of water, with nearly half supplied by an in-house sewage treatment plant. Solid waste, expected at 418 kg daily, will be processed sustainably—biodegradable waste will be converted on-site while non-biodegradable material will be handed over to authorized vendors.

Other eco-measures include rooftop rainwater harvesting tanks, a 20% reduction target in energy use, and transplantation of 40 trees within the airport boundary. The land, currently serving as open parking, was allocated to AAHL under a 50-year concession agreement signed in 2021 with the Airports Authority of India (AAI). The EAC has clarified that the site is free from ecologically sensitive zones, coastal regulation restrictions or protected habitats.

Thiruvananthapuram airport is already handling record traffic, with nearly 4.9 million passengers between April 2024 and March 2025, and this new city-side development is expected to further elevate the airport’s standing as a gateway to Kerala.