With interest, SpiceJet dues top ₹400 crore, says Maran

Sun Group chairman Kalanithi Maran told the Delhi High Court on Thursday that SpiceJet owes over ₹400 crore, including interest, in their long-running arbitration dispute—far higher than the ₹144.5 crore cited by the cash-strapped airline.

- Yash Tiwari & Krishna Yadav

The airline said it is under stress due to the West Asia war and rising ATF prices. It is looking to sell property to pay the dues.

(HT)

Senior lawyer Jayant Mehta, representing KAL Airways, argued that "interest is not being calculated properly in their books. There is more than ₹400 crore outstanding."

The court was hearing SpiceJet’s petition seeking relief against the high court’s earlier order directing it to deposit ₹144.5 crore by April 14.

Representing SpiceJet, senior counsel Mukul Rohatgi said: "I am under financial stress due to the West Asia war and rising aviation turbine fuel prices. I am trying my best to sell the property before the next date and pay the dues."

After hearing the argument, Justice Subramonium Prasad said that what was required to be complied with in 2023 was being supplemented with material from 2026, and that the party was now seeking to take advantage of a war occurring in 2026 in support of its case.