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China's ICBC seeks return of four 737 MAX jets leased to SpiceJet, documents show

Leasing firms are moving to repossess Boeing 737 MAX aircraft from SpiceJet as multiple entities file for deregistration in India.

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The brief

China’s ICBC and two Irish lessors have formally requested that the Directorate General of Civil Aviation (DGCA) deregister four Boeing 737 MAX jets currently leased to SpiceJet. The move aims to facilitate the repossession of these aircraft.

Coverage from Reuters, Live From A Lounge, and livemint.com highlights the simultaneous filings by these international lessors. The industry is now awaiting regulatory action from the DGCA regarding the deregistration requests.

Coverage does not yet specify a timeline for the physical return of the jets or the financial implications for the parties involved.

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Quick answers

Who is seeking to repossess the aircraft?

ICBC from China and two Irish leasing companies have filed for the deregistration of the jets.

Why have these aircraft been grounded?

A SpiceJet spokesperson stated the aircraft were grounded due to engine HPT manufacturing issues.

What is the next step in the process?

The DGCA must review and process the formal applications for deregistration.

Coverage (5)

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