The Directorate General of Civil Aviation (DGCA) on Tuesday said it has removed SpiceJet from its enhanced surveillance regime following a series of inspections over the course of a month.

Spicejet was placed under enhanced surveillance by DGCA on September 13, 2024 in view of the financial constraints being faced by the operator which could potentially affect discharge of mandatory obligations of aircraft maintenance.

The regulator’s move followed a special audit conducted on August 7 and 8, 2024, which revealed certain deficiencies in the airline’s engineering facilities.

The DGCA said a total of 266 spot checks were conducted at various locations as part of this monitoring effort. It confirmed that deficiencies identified during these checks were addressed appropriately by the airline.
“In light of the same and the financial infusion of additional funds into the company, Spicejet has been taken off the enhanced surveillance regime,” the regulator said in a statement.

“However, random spot checks will remain in place across the airline’s operational fleet to ensure ongoing safety standards,” it added.

Since the beginning of the enhanced surveillance regime, SpiceJet has raised ₹3,000 crore through sale of shares to qualified institutional buyers, providing a much-needed tailwind for the struggling low-cost airline.

Foreign entities, including Societe Generale – ODI, Goldman Sachs (Singapore) Pte – ODI, Discovery Global Opportunity (Mauritius) Ltd, Authum Infrastructure and Investment, and Troo Capital are among the investors who were allotted shares under the airline’s QIP that was oversubscribed.

SpiceJet intends to use proceeds from this raising to address liabilities, restructure with lessors, and expand its fleet by reviving grounded aircraft and adding new planes.

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