Aviator ML

Aviator ML is an aircraft lessor that brought an insolvency petition against the airline SpiceJet before the National Company Law Tribunal (NCLT) over an aircraft-lease dispute. [1] source: The Hindu BusinessLine[2] source: Outlook Business[3] source: CNBC-TV18 Aviator ML alleges a payment default of around ₹60 crore by SpiceJet. [3] source: CNBC-TV18

On July 31, 2026, CNBC-TV18 reported that NCLT had reserved judgment on the ₹60 crore claim. [3] source: CNBC-TV18 On August 17, 2026, Outlook Business reported that NCLT deferred orders after other lessors objected, with eight insolvency petitions pending. [4] source: Outlook Business On August 19, 2026, NCLT allowed Aviator ML to withdraw its insolvency plea following a settlement. [5] source: Financial Express[6] source: ET Small Business NCLT fined Aviator ML and SpiceJet ₹7.5 lakh each, a ₹15 lakh total penalty, with 7 days to deposit it. [5] source: Financial Express ET Small Business reported that the fine was for late disclosure. [6] source: ET Small Business

After Aviator ML withdrew, NCLT will rehear seven other lessor insolvency petitions against SpiceJet, while the original judgment covered eight petitions. [7] source: The Hindu BusinessLine[1] source: The Hindu BusinessLine Outlook Business put the claims in the remaining petitions above ₹500 crore. [2] source: Outlook Business It named Alterna Aircraft, AWAS Ireland, Falgu Aviation, JetAir 17 and Sabarmati Aviation in connection with those cases. [2] source: Outlook Business SpiceJet said it is focused on rebuilding operations and restoring its fleet. [7] source: The Hindu BusinessLine