India's SpiceJet climbs after tribunal rejects insolvency case

Spicejet

30/01/2024 05:02

** Shares of budget airline SpiceJet  SPJT.BO  rise as much
as 4.7% to over two-week high of 67.3 rupees, last up 2%
    ** SPJT says National Company Law Tribunal on Jan. 29
dismissed insolvency petition filed against airline by aircraft
lessor Wilmington Trust
    ** SpiceJet shares up ~10% YTD, also aided by reports of
receiving funds and Carlyle expressing interest
    ** Stock has outperformed rival IndiGo  INGL.NS , which is
down 1.5%
    ** SPJT climbed 55% in 2023, vs 48% rise in INGL

 (Reporting by Chris Thomas in Bengaluru)
 ((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters
Messaging: chris.thomas.thomsonreuters.com@reuters.net))