SpiceJet has settled a USD 23.39 million dispute with aircraft lessor Aircastle, leading to the withdrawal of an insolvency case filed against the airline. The settlement includes a USD 5 million payment and an agreement on aircraft engine treatment.
Photograph: Amit Dave/Reuters
New Delhi, Nov 28 (PTI) SpiceJet on Thursday said aircraft lessor Aircastle has withdrawn the insolvency case against the airline following a "mutually agreed upon settlement".
Last month, SpiceJet announced the resolution of a USD 23.39 million dispute with Aircastle (Ireland) Designated Activity Company and Wilmington Trust SP Services (Dublin) Ltd.
"Aircastle (Ireland) Designated Activity Company has withdrawn its insolvency case against SpiceJet before the National Company Law Tribunal (NCLT). This follows a mutually agreed-upon settlement, marking a positive turn in the airline's efforts to rebuild and strengthen ties with its partners," the airline said in a statement.
The settlement was reached for an aggregate sum of USD 5 million, alongside an agreement on the treatment of certain aircraft engines, it added.
Home » Market News » SpiceJet Resolves Dispute with Aircastle, Withdraws Insolvency Case
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2025 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback