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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 October 4, 2025
Sri Lanka Tourism is intensifying its efforts to attract Indian travellers with a three-city roadshow series across Southern India. Scheduled for Madurai, Coimbatore, and Chennai on October 6, 8, and 10, 2025 respectively, the initiative will highlight Sri Lanka’s diverse tourism offerings and strengthen ties with the Indian travel industry.
Organised by the Sri Lanka Tourism Promotion Bureau (SLTPB) and the Sri Lanka Convention Bureau (SLCB), the roadshows will feature B2B sessions and networking evenings designed to showcase Sri Lanka as a year-round destination for all types of travellers. The events will introduce Indian travel agents and industry professionals to Sri Lanka’s tourism sector, its vibrant attractions, and growing opportunities for leisure and MICE travel.
“This initiative underscores Sri Lanka’s commitment to strengthening its position as a preferred destination for Indian travellers, offering a blend of breathtaking landscapes, rich culture, and world-class hospitality,” said the delegation led by Mr. Vijitha Herath, Minister for Foreign Affairs, Foreign Employment, and Tourism, and Prof. Ruwan Ranasinghe, Deputy Minister of Tourism.
The delegation includes over 40 stakeholders from across Sri Lanka’s tourism industry, including destination management companies, hotels, resorts, tour operators, and service providers. Each city’s event will host over 200 participants, comprising Indian travel agents, industry leaders, and media representatives.
Adding a vibrant touch to the experience, a Sri Lankan cultural dance troupe will perform at each venue, offering guests a glimpse into the island’s rich heritage and traditions.
About SLTPB & SLCB
The Sri Lanka Tourism Promotion Bureau is the government agency responsible for marketing and promoting Sri Lanka as a travel destination. Working closely with the Sri Lanka Tourism Development Authority, SLCB, and other stakeholders, SLTPB aims to position Sri Lanka as South Asia’s leading tourist destination.
The Sri Lanka Convention Bureau focuses on promoting MICE (Meetings, Incentives, Conferences, and Exhibitions) travel to Sri Lanka. With world-class venues and improved accessibility, SLCB facilitates event planning for international corporations, associations, and incentive houses. India remains a key market for the bureau’s promotional activities.
Both organisations operate under the Ministry of Foreign Employment, Foreign Affairs & Tourism of Sri Lanka, combining efforts to promote the country’s leisure and business tourism offerings.
Published on October 3, 2025
Centrum Air, represented in India by Aeroprime Group as its exclusive General Sales Agent (GSA), will commence direct flights between Delhi and Tashkent starting October 3, 2025. The twice-weekly service, operating on Tuesdays and Fridays, is designed to enhance air connectivity, tourism, trade, and cultural exchanges between India and Uzbekistan.
The official launch event, hosted by Aeroprime Group, was attended by His Excellency Sardor Rustambaev, Ambassador of Uzbekistan to India, along with senior dignitaries, embassy officials, media representatives, and trade partners.
Adil Mirza Khalmirzaev, GSA Department Head and Business Development Director at Centrum Air, stated that the airline is responding to growing demand for direct India–Uzbekistan connectivity. Plans are underway to expand routes from Hyderabad and Bengaluru to Tashkent by summer 2026, while Mumbai expansion will be considered based on market demand.
Abhishek Goyal, CEO & Executive Director, Aeroprime Group, highlighted that the Delhi–Tashkent route is part of a broader plan to expand Centrum Air’s presence in India, opening pathways for travelers to Central Asia and Europe.
Uzbekistan, known for its Silk Road heritage, cultural landmarks, and hospitality, is expected to benefit from improved accessibility. The new service aims to support both leisure travel and trade, strengthening cultural and economic ties between the two nations.
Centrum Air’s launch reflects growing opportunities in air connectivity and provides Indian travelers with affordable fares, convenient schedules, and a comfortable travel experience on the Delhi–Tashkent corridor.
Akasa Air has announced significant enhancements to its ‘Pets on Akasa’ service, offering greater flexibility and convenience for passengers travelling with pets. Starting immediately, the airline will allow two pets in the cabin per flight, up from the earlier limit of one, and has reduced the booking window to 24 hours before departure.
Since its launch in November 2022, over 8,500 pets have travelled with Akasa Air across its domestic network, highlighting the rising demand for pet-friendly air travel in India. Customer feedback has shaped several service upgrades, including extending pet travel certificate validity to 15 days and increasing the maximum cabin weight (pet plus carrier) to 10 kg.
Passengers with pets enjoy additional benefits, such as pre-booked window seats, priority check-in, baggage delivery, and first boarding options. Akasa Air staff across call centres, airport counters, and in-flight teams have undergone specialised training to ensure the safety and comfort of pets and owners.
The airline has also partnered with Umeed for Animals Foundation, a Gurgaon-based non-profit, to follow best practices in animal care and safety. Pets on Akasa is now available on flights to 24 domestic cities, including Mumbai, Delhi, Bengaluru, Chennai, Kochi, Hyderabad, Kolkata, Guwahati, Lucknow, and Goa. Bookings can be made via the Akasa Air Care Centre or by contacting pets@akasaair.com.
Akasa Air operates a modern fleet featuring USB ports, spacious seating, and its onboard dining service, Café Akasa, along with accessibility-focused initiatives like Braille menus and safety cards. These enhancements underscore Akasa Air’s commitment to inclusive travel and its growing role in shaping pet-friendly air journeys across India.
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