India's SpiceJet gets creditor nod for SpiceXpress spin-off

Creditor banks have indicated they will issue no-objection certificates and allow SpiceJet to transfer all of its cargo and logistics operations to SpiceXpress and establish the cargo business as a separate entity. In August, SpiceJet foreshadowed the move, saying it would allow the cargo carrier to grow independently of the struggling parent airline. SpiceXpress recently posted revenues of 20.6b rupees (US$252.8m) in the three months to September 30, 2022, and a net profit of 2.12b (US$26m) from transporting 27,675 tonnes of cargo. In contrast, SpiceJet reported a multi-billion quarterly net loss. In addition to utilizing belly hold space in its fleet of 78 passenger aircraft (of which the ch-aviation fleets advanced module reveals only 39 are active), SpiceJet also operates a fleet of three B737-700(BDSF)s and two (presently inactive) B737-800(BCF)s under the SpiceXpress brand. <br/>