China's ICBC seeks return of four 737 MAX jets leased to SpiceJet, documents show

China’s ICBC seeks return of four 737 MAX jets leased to SpiceJet, using India’s deregistration framework to move toward repossession. Two Irish leasing entities tied to ICBC Financial Leasing—Sky High LXXX Leasing Company Ltd and Sky High LXXVIII Leasing Company Ltd—asked India’s aviation regulator on July 13 to deregister the aircraft, a step made public on Monday. The move tests a law passed by India last year intended to help lessors repossess planes. SpiceJet, India’s fourth-largest airline, said the four jets had been grounded for a prolonged period due to manufacturing issues involving high-pressure turbine components. The carrier reported 11 of its 53 aircraft as in service. It is seeking operational stability after receiving 1.5 billion rupees ($15.60 million) from a government-backed credit scheme and hopes for another 3.5 billion rupees. Shares fell nearly 63% since the start of the year.