SpiceJet settles disputes with aircraft lessors

SpiceJet, the homegrown budget carrier, informed the Bombay Stock Exchange that it has entered into an "in-principle understanding" with its five lessors with regard to five aircraft operated by the airline.

"Under the said understanding, the lessors have agreed to suspend court proceedings (including winding-up proceedings) and deregistration process of aircraft subject to SpiceJet satisfying the terms of settlement and parties executing definitive agreements," the low-cost carrier said in a BSE filing.

SpiceJet is also taking seven additional planes on lease to meet its flight plans for the summer schedule that started on 29 March, Live Mint reported.