Three Indian banks have classified loans to SpiceJet Ltd as "high risk," although the airline has not defaulted, according to people familiar with the situation, despite the airline's denial.
IDFC First Bank, Yes Bank, and Indian Bank are concerned about SpiceJet's cash flows and have met with the carrier to seek assurances after the carrier has fallen behind on payments to some aircraft lessors.


Anyone exposed to Spicejet stock should stay cautious for the mid-term to long-term and wait for their results to understand how the company is performing.


Always calculate the following ratios to know the company's creditworthiness:

1. Interest Coverage Ratio
2. Debt-service coverage ratio
3. Cash Coverage ratio