SpiceJet, India's favourite airline, is sorting all the odds one by one and emerging stronger as days pass by. In another advancement, the airline today has updated that it has entered into a settlement agreement with Aircraft Lessors.
Settlement Agreement With Aircraft Lessors:
The company statement regarding the agreement is as follows:
The Company has entered into settlement agreement 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 parties have agreed to settle all their disputes under and related to the aircraft lease agreements for 3 aircraft. The agreement, the terms of which are confidential, 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 All proceedings, including before the UK Court and Execution Proceedings before the Delhi High Court will be withdrawn accordingly.
Aircrafts to get added to SpiceJet's fleet:
A total of 3 Boeing aircrafts are related to the dispute: 2 Boeing 737 Max and 1 Boeing 737-800 NG aircraft. This will allow the entry into service of two more fuel-efficient Boeing 737 MAX aircraft into SpiceJet's fleet.
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