FTAI Aviation to provide SpiceJet with up to 20 engines

SpiceJet will partner with FTAI Aviation Ltd. (Nasdaq: FTAI), a leading aftermarket provider of engine services, on a CFM56 revitalisation programme. Under this programme, FTAI Aviation Ltd. (Nasdaq: FTAI) will provide SpiceJet with up to twenty (20) engines for lease, inclusive of maintenance services. By leveraging FTAI Aviation's engine expertise, SpiceJet will have access to a pipeline of available engines which eliminates the need for frequent shop visits. The revitalisation programme will reduce maintenance expense and minimise aircraft downtime, enhancing the airline's overall performance.

This programme will further emphasise on SpiceJet's commitment to cost efficiency and operational excellence. The first engines will be used to support the reactivation of SpiceJet's aircraft fleet over the next two-three months and will be critical for service on new routes. With FTAI Aviation managing the engines, SpiceJet will strengthen its resource allocation and focus on delivering an exceptional travel experience while maximising their operational potential.

SpiceJet, through the CFM56 Revitalisation programme, aims to demonstrate its creativity and dedication to advancing the future of low-cost air travel and the aviation industry in India.

Ajay Singh, Chairman and Managing Director, SpiceJet, said, “SpiceJet is slowly but surely progressing towards its goal of restoring its fleet and ensuring that our aircraft stay where they rightly belong to ie in the skies serving our passengers. Our partnership with FTAI Aviation is a step forward in that direction that would ensure that our fleet is up and running at all times without us worrying about engines or their maintenance. Quick and ready replacements will ensure that our planes are on the ground for minimal time.”