SpiceJet share price rises 4% as court rejects a damages claim

Stock Market Today: SpiceJet share price gained more than 4% during the intraday trades on Monday, May 26, as the Delhi High Court Division Bench rejected a damages claim of ₹1,300 crore, providing relief to the company.

SpiceJet today informed the stock exchanges that the Delhi High Court Division Bench has rejected the appeal of KAL Airways and Kalanithi Maran for any damages claim.

As per the release on the exchanges, the airline operator SpiceJet said, “Division Bench of Delhi High Court in its order dated May 23, 2025, has dismissed the appeal filed by KAL Airways and Kalanithi Maran seeking damages of more than ₹1300 crore and other claims. These assertions were already previously rejected by the Arbitral Tribunal and then the Delhi High Court.”

SpiceJet added that it is important to clarify that KAL Airways and Kalanithi Maran initially sought damages of more than ₹1300 crore during the arbitration proceedings. These claims were thoroughly examined and subsequently rejected by a panel of three retired Supreme Court judges, as per SpiceJet. 

Following this, KAL Airways and Kalanithi Maran appealed to the single-judge bench of the Delhi High Court, seeking the same amount in damages, which was also rejected by the court.

SpiceJet share price movement

SpiceJet share price opened at ₹44.10 on the BSE on Monday. At the time of opening, SpiceJet was trading higher as compared to the closing price of ₹43.83. The airline stock thereafter moved higher to ₹45.78, translating into intraday gains of 4.45% for the SpiceJet share price.

SpiceJet share price: Other developments

SpiceJet remains in the news in May as it shared an update on fleet reactivation with the Ungrounding of Boeing 737 NG Aircraft.

On May 07, 2025, SpiceJet said that as of May 9, 2025, one more Boeing 737 NG aircraft has been successfully ungrounded and reintroduced into our operating fleet.

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