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By Manu Vardhan Kannan
Published on September 13, 2025
SpiceJet has announced a significant financial settlement with Carlyle Aviation Partners, unlocking $89.5 million in fresh liquidity as part of its ongoing restructuring efforts. The agreement includes $79.6 million in cash maintenance reserves earmarked for future aircraft and engine upkeep, along with $9.9 million in maintenance credits to offset lease obligations.
In addition, certain lease obligations totaling $121.18 million will be restructured through the issuance of $50 million worth of equity shares. The settlement also includes a provision allowing a portion of proceeds, if exceeding $50 million from the share sale, to be applied toward offsetting future lease payments. Furthermore, promoters will retain the option to buy back these shares on mutually agreed terms after the statutory and contractual lock-in period.
Ajay Singh, Chairman and Managing Director of SpiceJet, said: “This agreement marks a significant milestone in our ongoing restructuring and un-grounding efforts. The support extended by Carlyle demonstrates their confidence in SpiceJet’s long-term prospects. This transaction meaningfully reduces our liabilities, strengthens our balance sheet, and positions us well for sustainable growth.”
The airline’s shares rose 3.84 percent to Rs 34.33 apiece on the BSE following the announcement. The deal comes at a critical time for SpiceJet, which has been struggling financially with more than half of its 54-aircraft fleet grounded, leaving only 21 operational. As of June-end, the airline had just Rs 333 crore in free cash, much of which has gone toward statutory dues such as GST, TDS, and provident fund payments.
SpiceJet has been working to stabilize operations by settling with lessors and restructuring certain debts into equity. The airline also completed a $24 million settlement with Credit Suisse in May 2022. Looking ahead, it plans to induct 10 Boeing 737 aircraft on short-term leases for the winter season, with discussions ongoing for further narrowbody and wide-body aircraft additions later this year.
Despite facing a historic domestic market share low of 1.9 percent and operational challenges including high cancellation rates and poor on-time performance, the Carlyle settlement provides a much-needed financial boost. The agreement is expected to help SpiceJet strengthen its position as it attempts to rebuild capacity and regain competitiveness in the Indian aviation market.
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By Hariharan U
Published on December 10, 2025
PRISM, the parent company of OYO, has announced a full refund policy for guests who could not check into their hotels between December 5 and 15, 2025 due to the widespread flight disruptions across India. With more than 1,400 flights cancelled over the weekend and multiple delays crossing four hours, thousands of travel plans were affected at the peak of the wedding and holiday season.
Under this policy, guests who booked through the OYO or CheckIn apps will receive automatic refunds once they submit valid proof of cancellation or delay. PRISM is also coordinating closely with its hotel partners to ensure the process is smooth and does not burden small and mid-sized properties that depend heavily on seasonal business.
Sharing more details, Varun Jain, Chief Operating Officer, PRISM Asia, said, “Our early estimates indicate that significant bookings across our hotel network may be affected by the ongoing flight disruptions. Coinciding with the peak wedding and holiday season, both leisure and business travel plans are being impacted. Our decision to offer full refunds is guided by empathy and a sense of responsibility to ensure our guests are not financially burdened by circumstances entirely beyond their control.”
PRISM today operates 13,000+ hotels under brands such as Townhouse, Sunday and Palette across India. To support the increased volume of queries, the group has also expanded its customer service team to help guests with refund requests and clarity on documentation. The company will continue to monitor the situation and extend the refund window if required.
Guests can access detailed policy information or raise requests through the CheckIn policy page or contact the dedicated support helpline.
Published on December 8, 2025
Christmas in India brings together beaches, hills, colonial heritage, and cultural celebrations, creating a festive atmosphere that feels unique to every region. Showcasing this diversity, Thomas Cook India and SOTC Travel have highlighted seven destinations that capture the country’s holiday spirit and inspire travellers to plan memorable year-end trips.
Goa remains one of India’s most popular festive escapes, glowing with lights, carols, and its signature Christmas flavours. Churches such as the Basilica of Bom Jesus and Our Lady of the Immaculate Conception host soulful midnight masses that attract visitors from across the country. Travellers can explore lively Christmas markets, enjoy beachfront music sessions, or savour traditional Goan feasts.
In Kerala, Christmas blends coastal charm with serene celebrations. Cities such as Kochi, Kottayam, and Thiruvananthapuram come alive with star lanterns, nativity displays, and warm community gatherings. A backwater cruise on Christmas Eve, a Kathakali show in Kochi, and the beautifully lit streets of Fort Kochi offer a relaxed yet festive holiday experience.
Puducherry brings together French elegance and coastal simplicity for a peaceful Christmas getaway. White Town turns into a picture-perfect festive setting lined with cafés, heritage buildings, and soft illumination. Visitors can attend midnight mass at the Basilica of the Sacred Heart of Jesus, enjoy French-Indian festive menus, or spend quiet evenings by the sea.
For travellers seeking a hill destination, Meghalaya offers a vibrant yet serene celebration. Shillong shines with decorated churches, choir performances, and lively music nights that reflect the state’s strong musical culture. Christmas fairs, colourful lights at Police Bazaar, and outings to Umiam Lake make it an inviting winter retreat.
A culturally rich experience awaits visitors in Nagaland, where community feasts, gospel performances, and beautifully decorated churches define the celebrations. Kohima and Dimapur showcase the state’s strong sense of togetherness, while travellers visiting in early December can also experience the energy of the Hornbill Festival.
Kolkata brings timeless charm to Christmas with its Anglo-Indian traditions and festive street scenes. Park Street turns into a hub of lights, music, and food, drawing crowds throughout the season. Midnight mass at St. Paul’s Cathedral, treats from heritage bakeries, and the warm celebrations of Bow Barracks add to the nostalgic experience.
Those dreaming of a winter escape can head to Shimla, where pine trees, colonial architecture, and the possibility of snow create a classic Christmas mood. The Ridge and Mall Road glow with decorations, while Christ Church offers a peaceful setting for Christmas services. Visitors can enjoy scenic walks, warm cafés, and short trips to Kufri for snow-filled adventures.
Thomas Cook India and SOTC Travel’s curated selection offers travellers a chance to choose a Christmas holiday that suits their festive mood, be it relaxed, cultural, adventurous, or nostalgic.
Published on December 6, 2025
Indian Railways has increased capacity across its network by adding 116 extra coaches to 37 trains, stepping in to manage the sudden surge in travel demand caused by widespread IndiGo flight cancellations. The move aims to ensure smoother travel and better seat availability for passengers facing long waits and heavy crowds at several airports.
These additional coaches have been deployed across 114 augmented trips nationwide. Southern Railway carried out the largest expansion, strengthening 18 trains with extra Sleeper and Chair Car coaches on routes that have seen a sharp jump in demand.
Northern Railway added 3AC and Chair Car coaches to eight trains, improving availability along the busy northern corridors. Western Railway expanded four high-demand trains with 3AC and 2AC coaches, supporting heavy passenger movement between western regions and the national capital.
East Central Railway increased capacity on the Rajendra Nagar–New Delhi service (12309) by adding 2AC coaches over multiple trips, offering relief to travellers on the busy Bihar–Delhi route. East Coast Railway also added 2AC coaches on Bhubaneswar–New Delhi trains (20817/20811/20823), improving links between Odisha and Delhi.
Eastern Railway strengthened three key services by attaching Sleeper Class coaches over several trips to meet rising inter-state travel needs in the eastern region. Northeast Frontier Railway expanded two important trains with Sleeper and 3AC coaches over multiple trips, ensuring consistent connectivity for passengers in the Northeast.
With airports seeing long queues and delayed flights, Indian Railways has stepped in to ease passenger movement. The additional coaches are expected to improve the overall travel experience and help travellers reach their destinations on time during this high-demand period.
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