SpiceJet Ltd enters into settlement agreement with aircraft lessor

SpiceJet Ltd 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 (2) Boeing 737 MAX aircraft and one (1) 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 All proceedings, including before the UK Court and Execution Proceedings before the Delhi High Court will be withdrawn accordingly.

This will allow the entry into service of two (2) more fuel-efficient Boeing 737 MAX aircraft into our fleet.

Shares of SPICEJET LTD was last trading in BSE at Rs. 45.85 as compared to the previous close of Rs. 46.15. The total number of shares traded during the day was 236598 in over 1510 trades.

The stock hit an intraday high of Rs. 46.50 and intraday low of 45.70. The net turnover during the day was Rs. 10875071.00.

Source : Equity Bulls

Keywords

SPICEJET INE285B01017 SettlementAgreement AircraftLessor GoshawkAviation