China’s largest bank asks DGCA to deregister Boeing 737-8s leased to SpiceJet

Industrial and Commercial Bank of China (ICBC) has turned to India’s Directorate General of Civil Aviation (DGCA) to deregister four Boeing 737 MAX 8 jets leased to SpiceJet.

Dated on July 9, 2026, the four IDERA (Irrevocable De-Registration and Export Request Authorization) Deregistration Request documents were submitted by SKY HIGH LXXVIII and SKY HIGH LXXX

Both lessors, owned by Industrial and Commercial Bank of China, are based in Dubin, Republic of Ireland.

If the DGCA proceed with the deregulation then the four SpiceJet Boeing 737 MAX 8 jets will be removed from India’s civil aircraft register.

Industrial and Commercial Bank of China would then look to take possession of the aircraft and remove them from India.

SpiceJet says aircraft not part of current operational fleet

In response to the deregulation request, SpiceJet said that the four aircraft had been on the ground for some time due to high-pressure turbine issues in their engines.

According to Planespotters.net, the four aircraft (registered VT-MXA, VT-MXB, VT-MXC and VT-MAX) were all placed in storage in either 2024 or 2025. The 737-8s are all just under eight years old.

“The deregistration of these aircraft will eliminate lease rental costs on assets that have remained non-operational for a prolonged period. There is no impact on the airline’s operations, as these aircraft have been out of service for a considerable time,” a SpiceJet spokesperson said.

In February 2026, Ajay Singh, Chairman and Managing Director of SpiceJet, said that “while legacy costs and external factors continue to weigh on expenses, the core business is clearly strengthening”.

“This quarter reflects the progress we have been working steadily towards. Higher revenues, improving yields and a sharp reduction in losses demonstrate that our operational strategy is delivering results,” Singh said.

He added: “With more aircraft in service, a sharper network focus and continued balance sheet repair, we are building a more resilient airline, step by step.”

Executives as the airline have mandated a calibrated ramp-up of fleet size to 55-60 aircraft effective in the winter schedule, through a mix of wet and damp leases as well as the return to service of existing grounded aircraft.

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