News
SpiceJet welcomes positive assessment from ratings agency
October 14th 2025
SpiceJet chief business officer, Debojo Maharshi, said the recent assignment of a CRISIL A4+ rating from agency Crisil Ratings Limited reflected the company’s efforts to improve its financial position and growth. Read More » In a note to clients, Crisil Ratings assigned SpiceJet’s short-term bank facilities to a CRISIL A4+ rating, one step up from its previous CRISIL D issue not cooperating rating. The agency said the rating reflected the LCC’s weak financial performance in the past several years with sustained pressure on profitability due to an inability to return grounded aircraft to flying as well as persistent high operating costs. Nonetheless, the rating assignment was supported by SpiceJet’s ongoing efforts to restructure its lease liabilities, its recent capital raising and its plan to return more aircraft to flying. "We are pleased CRISIL has acknowledged SpiceJet’s sustained efforts to strengthen its financial and operational performance," Maharshi said. "Over the past year, we have focused on disciplined financial management. This recognition reaffirms our commitment to building a stronger and more resilient airline well-positioned for sustainable growth."
