Page 28 - Development Canada News Today : Breaking News, Live Updates & Top Stories | Vimarsana

SpiceJet has agreed with Export Development Canada to settle liabilities worth around $91m, allowing it to take ownership of 13 of 15 aircraft.

BENGALURU (Reuters) -Indian budget carrier SpiceJet said on Tuesday it agreed with Export Development Canada (EDC) to settle liabilities worth around $91 million, allowing it to take ownership of 13 of 15 Bombardier Q400 aircraft financed by the Canadian trade finance agency. "This settlement marks the biggest breakthrough in SpiceJet's financial restructuring efforts to date," the airline said in a statement. SpiceJet has over the last few months reached settlements with multiple lessors, including Aercap, the world's largest aircraft lessor, as the company looks to rest...

UPDATE 2-India's SpiceJet to own 13 Bombardier Q400 planes after $91 mln settlement, shares soar

BENGALURU (Reuters) -Indian budget carrier SpiceJet said on Tuesday it agreed with Export Development Canada (EDC) to settle liabilities worth around $91 million, allowing it to take ownership of 13 of 15 Bombardier Q400 aircraft financed by the Canadian trade finance agency. "This settlement marks the biggest breakthrough in SpiceJet's financial restructuring efforts to date," the airline said in a statement. SpiceJet has over the last few months reached settlements with multiple lessors, including Aercap, the world's largest aircraft lessor, as the company looks to rest...

Under the agreement's terms, SpiceJet will acquire full ownership of 13 EDC-financed Q400 aircraft, bolstering the airline's operational capabilities and fleet management.