SpiceJet, one of India's leading low-cost airlines, is in deep financial trouble. On July 31, 2024, the crisis reached a new peak when the Dubai Airports Company prevented several of the airline's flights due to "payment issues." About ten flights were reportedly cancelled that day, leaving hundreds of passengers stranded. Schedule data from ch-aviation showed that SpiceJet had flights to Ahmedabad, Amritsar, Jaipur, Kochi International, Kozhikode, Madurai and Pune, as well as two flights to Mumbai International and Delhi International, that day. These flights were all cancelled, causing considerable chaos and inconvenience to the affected passengers. In a statement, SpiceJet attempted to defuse the situation, saying that the flights were cancelled due to "operational reasons." The airline stressed that operations to and from Dubai are now back to normal. However, neither SpiceJet nor the Dubai Airports Company responded to requests for further details. The problems in Dubai are just the tip of the iceberg for SpiceJet. The airline has repeatedly made headlines over the past few years with financial difficulties. Recent allegations include that the airline has not paid contributions to the employee welfare fund for over two and a half years. In addition, seven companies, mainly aircraft frame and engine lessors, have filed insolvency petitions against SpiceJet in the National Company Law Tribunal. Another seven companies have active claims pending in the Delhi High Court, with some companies filing more than one case. Raising capital and financial stabilisation In an attempt to stabilise its financial situation, SpiceJet has