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SpiceJet will pay a comprehensive settlement amount to resolve outstanding liabilities amounting to close to $91 million as per SpiceJet's books of accounts
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...
Under the terms of the agreement, SpiceJet will acquire full ownership of 13 EDC-financed Q400 aircraft. The move will bolster the airline's operational capabilities and fleet management.
UPDATE 2-India's SpiceJet to own 13 Bombardier Q400 planes after $91 mln settlement, shares soar