A division bench of the Delhi High Court had held that the carrier had violated an agreed interim arrangement for payment of dues and upheld an order of a single-judge bench asking the low-cost airline to ground the three engines for defaulting on the payments.

In a statement after the Supreme Court ruling, SpiceJet said it was in discussions with the aircraft lessor to reach an amicable settlement

The Supreme Court upheld a Delhi High Court ruling directing SpiceJet to ground three aircraft engines over unpaid dues to lessors. SpiceJet is negotiating with the lessor for a settlement. Two of the engines are already grounded,

The Supreme Court on Friday rejected SpiceJet's plea against a Delhi High Court order that required the cash-strapped airline to ground three engines leased from Team France 01 SAS and Sunbird France 02 SAS over the unpaid dues.

The lessors, in their submission to the Supreme Court, highlighted that SpiceJet had undertaken to fulfil its payment obligations but subsequently defaulted, thereby violating the terms of the consent order.

CNBC-TV18 reported that the airline has been asked to ground and return the three engines within 15 days. Shares of SpiceJet slipped to day's low, falling by over a percent after the news.