SpiceJet grounds fleet — ₹140m fuel debt

SpiceJet’s fleet was grounded due to unpaid fuel bills of ₹140m. The airline’s planes were refused fuel by state oil companies, resulting in a nationwide grounding of flights. This incident occurred in December 2014, marking the second time in three years an Indian carrier faced significant financial difficulties, following Kingfisher’s similar struggles. Our take: holders of SpiceJet miles should be cautious, as the airline’s financial instability may impact the value of their miles. With the airline’s history of financial struggles, it is essential for frequent flyers to consider the potential risks. Move your balance to a more stable airline or loyalty program to minimize potential losses.