rediff.com

SpiceJet Settles USD 4.5 Million Dispute with SES for USD 2 Million

Share on:

By Rediff Money Desk, MUMBAI   Oct 25, 2024 15:06

SpiceJet has settled a USD 4.5 million dispute with Shannon Engine Support Ltd (SES) for USD 2 million. This follows three other financial agreements by the airline in recent weeks.
SpiceJet Settles USD 4.5 Million Dispute with SES for USD 2 Million
Photograph: Amit Dave/Reuters
Mumbai, Oct 25 PTI) Domestic carrier SpiceJet on Friday announced it has settled a USD 4.5 million dispute with Shannon Engine Support Ltd (SES) for an aggregate sum of USD 2 million.

This settlement with SES follows three other financial agreements by the airline in recent weeks, SpiceJet said in a statement.

Both parties-- SpiceJet and Shanon Engine Support-- have reached this agreement through amicable negotiations, choosing to resolve the matter outside the courtroom, the airline said.

As part of the settlement, all ongoing litigations and disputes between the parties will be withdrawn at the appropriate forums, it added.

On October 15, SpiceJet had announced amicably settling a US 23.39 million dispute with Aircastle (Ireland) Designated Activity Company and Wilmington Trust SP Services (Dublin) Ltd for an aggregate sum of USD 5 million.

On October 9, the airline said it has resolved a USD 131.85 million dispute with lessors Horizon Aviation 1 Ltd, Horizon II Aviation 3 Ltd, and Horizon III Aviation 2 Ltd (under the management of Babcock & Brown Aircraft Management) for USD 22.5 million.

Prior to that, on September 24, the company had settled a dispute with Engine Lease Finance Corporation (ELFC), which initially claimed USD 16.7 million, for a lower amount.
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.

TODAY'S MOST TRADED COMPANIES

  • Company Name
  • Price
  • Volume

More »

Moneywiz Live!