SpiceJet, a low-cost carrier, has received a significant boost to its turnaround strategy with CRISIL reaffirming its confidence in the airline’s recovery by assigning it an A4+ rating. This rating is based on SpiceJet’s restructuring plan, strong capital-raising ability, and adequate liquidity. The airline’s efforts to strengthen its financial and operational performance have been recognized, with a focus on disciplined financial management.

The CRISIL rating is the latest in a series of positive developments for SpiceJet, following two consecutive upgrades from Acuité Ratings & Research. In September 2025, Acuité upgraded the airline’s long-term credit rating to ‘BB (Stable)’ from ‘BB- (Stable)’, and reaffirmed its short-term rating at ‘A4+’. These upgrades reflect growing market confidence in SpiceJet’s turnaround strategy.

The key factors supporting the improved rating include SpiceJet’s detailed revival plan, which involves ungrounding 10 aircraft by early 2026 and finalizing damp lease agreements for 18 aircraft. This will result in a 2.5x capacity increase, which is expected to improve the airline’s operating profitability, especially during peak travel seasons.

CRISIL also noted that SpiceJet has a strong liquidity position, with INR 333 crore in free cash and equivalents, supplemented by INR 150 crore in restricted cash. These funds, along with anticipated steady cash inflows, are expected to cover operational expenses, debt repayments, and lease obligations, ensuring stability during the revival process.

The recognition from CRISIL and Acuité signals renewed confidence in SpiceJet’s ability to navigate challenges, expand its operations, and strengthen its position as a key player in India’s low-cost airline segment. Debojo Maharshi, Chief Business Officer of SpiceJet, expressed pleasure at the CRISIL rating, stating that it reaffirms the airline’s commitment to building a stronger and more resilient airline, well-positioned for sustainable growth.

Overall, the CRISIL A4+ rating is a significant boost to SpiceJet’s turnaround strategy, reflecting the airline’s efforts to strengthen its financial and operational performance. With a strong liquidity position and a detailed revival plan in place, SpiceJet is well-positioned to navigate challenges and expand its operations in the Indian low-cost airline segment.

On October 8, 2025, SpiceJet flight SG-12 from Dubai to New Delhi landed at Indira Gandhi International Airport without the luggage of its 148 passengers. The airline claimed that the aircraft was overweight, necessitating the offloading of all checked-in luggage before departure from Dubai. However, passengers were not informed about this decision, and many only discovered that their luggage was missing when they arrived at the baggage carousel. The lack of communication from the airline added to the frustration of the passengers, who were left without access to essential items such as clothing and medication.

Passengers were asked to fill out Baggage Irregularity Reports and were informed that their belongings would be sent on the next available flight. However, as of the time of reporting, there were no confirmed updates regarding compensation or assistance provided by the airline. The incident has raised concerns over the airline’s protocols and customer service preparedness. Several passengers have spoken out about their experience, questioning the logistics of the situation and the financial stress caused by the loss of their luggage.

This incident is not an isolated case, as SpiceJet has faced similar issues in the past. In June 2025, a Dubai-Pune flight arrived without the luggage of approximately 140 passengers, and on October 7, 2025, a Jaipur-Dubai flight was delayed by 14 hours and eventually canceled due to “operational reasons.” The repeated baggage mishandling incidents and poor communication have led to growing dissatisfaction among SpiceJet customers.

The airline’s failure to address these issues effectively has eroded customer trust and confidence. The lack of transparency and communication has added to the frustration of affected passengers, who are left wondering how such incidents can occur repeatedly. As one passenger tweeted, “@SpiceJet set a new benchmark today. After delaying take-off by only one hour (yay!), they forgot passengers’ luggage at Dubai Airport.” The incident has highlighted the need for the airline to review its protocols and improve its customer service to prevent such incidents from happening in the future.

The incident has also raised questions about the airline’s weight management protocols and how they can be improved to prevent such incidents from occurring. The fact that the airline claimed that the aircraft was overweight, but did not inform passengers about the offloading of their luggage, has raised concerns about the airline’s communication procedures. The incident has also highlighted the need for the airline to provide adequate compensation and assistance to affected passengers.

In conclusion, the incident involving SpiceJet flight SG-12 has highlighted the need for the airline to review its protocols and improve its customer service. The repeated baggage mishandling incidents and poor communication have led to growing dissatisfaction among SpiceJet customers, and the airline must take steps to address these issues effectively to prevent further incidents from occurring. The airline must also provide adequate compensation and assistance to affected passengers and improve its communication procedures to prevent such incidents from happening in the future.

Tata Consultancy Services (TCS) has taken SpiceJet to court over unpaid technology bills amounting to Rs 2.34 crore. The lawsuit, filed in the Bombay High Court, alleges that SpiceJet has failed to pay TCS for services provided, including software development, maintenance, and support. TCS claims that it had provided these services to SpiceJet as part of a contract signed between the two companies.

According to the lawsuit, SpiceJet had availed of TCS’s services for its IT requirements, including the development and maintenance of software applications, data analytics, and cybersecurity. TCS had allegedly raised invoices for these services, but SpiceJet had failed to pay the dues, prompting TCS to take legal action.

The unpaid amount of Rs 2.34 crore is said to have accrued over a period of time, with TCS claiming that SpiceJet had made partial payments, but had not cleared the entire amount. TCS has sought the court’s intervention to recover the outstanding amount, along with interest and costs.

SpiceJet, on the other hand, has disputed TCS’s claims, stating that the latter had not provided the services as agreed upon. The airline has also alleged that TCS had not fulfilled its obligations under the contract, leading to losses and damages for SpiceJet.

The court has issued a notice to SpiceJet, directing it to respond to TCS’s allegations. The matter is scheduled to be heard shortly, with TCS seeking a directive from the court to SpiceJet to pay the outstanding amount.

This development comes at a time when SpiceJet is already facing financial difficulties, with the airline struggling to recover from the COVID-19 pandemic. The company has been reporting losses for several quarters, and its financial health has been a subject of concern for investors and stakeholders.

The dispute between TCS and SpiceJet highlights the challenges faced by companies in the IT and aviation sectors, where contracts and agreements can be complex and prone to disputes. The outcome of the lawsuit will be closely watched, as it could have implications for the business relationships between IT service providers and their clients in the aviation sector.