SpiceJet, announced on Tuesday, that it has entered into a settlement agreement with three lessors regarding lease agreements for three Boeing aircraft, and that all the disputes have now been settled.
The company said that it has settled with aircraft lessor Goshawk Aviation Limited and its affiliated leasing entities namely Wilmington Trust SP Services (Dublin) Limited, Sabarmati Aviation Leasing Limited and Falgu Aviation Leasing Limited related to two Boeing 737 MAX aircraft and one Boeing 737-800 NG aircraft.
The airline added that the parties have settled their disputes related to the lease agreements for the aircraft. The terms of the agreement are confidential, it added, further saying that the agreement now ends all litigation proceedings between the parties.
“All proceedings, including before the UK Court and Execution Proceedings before the Delhi High Court will be withdrawn accordingly. This will allow the entry into service of two (2) more fuel-efficient Boeing 737 MAX aircraft into our fleet,” it said.
SpiceJet has been in trouble with its lessors, Ireland-based Alterna Aircraft Ltd and United Arab Emirates aeronautics firm AWAS, who asked the Indian aviation regulator to de-register their planes.
According to reports last week, lenders IDFC First Bank, Yes Bank and Indian Bank, had put their loans to the airline in the high-risk category.
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