Carlyle Aviation Restructures SpiceJet Debt to 7.5% Stake in Indian Carrier

Indian low-cost carrier SpiceJet said it has restructured its outstanding lease rental worth over $100 million to aircraft leasing firm Carlyle Aviation Partners into equity shares and convertible debentures.

SpiceJet’s board of directors approved issuing fresh equity shares of $29.5 million to Carlyle Aviation, following which the aircraft leasing firm will now have over 7.5 percent stake in the Indian carrier.

As a part of the propo