New Delhi, Sept. 30 -- SpiceJet has spent the past two years trying to convince investors and lenders that it can fly above the turbulence dogging India's aviation sector. From grounded aircraft and mounting lease liabilities to persistent losses and regulatory pressures, the airline has weathered its share of crises.

Yet, in a surprise turn, credit rating agency Acuite has upgraded SpiceJet's bank facilities not once, but twice in just 30 days.

But why the sudden optimism-and does this mean SpiceJet is finally out of the woods?

On 29 August 2025, Acuite Ratings upgraded SpiceJet's long-term rating on certain bank guarantees and term loans from B+ (Stable) to BB- (Stable). At the same time, it improved the airline's short-term rating f...