Stock Report

SpiceJet Completes Full Payment of $24 Million to Credit Suisse

Posted On : 2025-09-09 10:28:14( TIMEZONE : IST )

SpiceJet has successfully completed the full payment of $24 Million to Credit Suisse, thereby fulfilling in entirety the terms of the settlement agreement signed between the two parties in May 2022.

This marks the closure of a long-standing liability that pre-dates the tenure of the airline's current promoter. The successful completion of this payment underscores SpiceJet's commitment to honouring its financial obligations and its sustained efforts to strengthen its balance sheet, improve financial stability and build long-term value for all stakeholders.

Debojo Maharshi, Chief Business Officer, SpiceJet, said, "The completion of this payment is another important step in our continued efforts to put legacy issues firmly behind us. This settlement not only brings closure to an old liability but also demonstrates our resolve and ability to meet commitments despite a challenging operating environment. SpiceJet today is financially stronger, more resilient, and fully focused on growth and profitability."

On the date of the execution of settlement agreement in May 2022 the total claim of Credit Suisse/SR Technics was US $41.77 Million, which the parties agreed to settle for USD 24 Million in a structured payment plan.

The liability arose before the current promoter took over the airline and was linked to legacy commercial arrangements. With the full settlement now completed, SpiceJet has successfully eliminated a long-standing financial overhang, further reinforcing the company's turnaround journey.

SpiceJet continues to take decisive steps to strengthen its financial position, including successful fund-raising initiatives, settlements with key lessors and creditors, and strategic expansion of its fleet and network.

Shares of SPICEJET LTD was last trading in BSE at Rs. 33.45 as compared to the previous close of Rs. 34.45. The total number of shares traded during the day was 17426460 in over 20096 trades.

The stock hit an intraday high of Rs. 34.45 and intraday low of 32.60. The net turnover during the day was Rs. 580643145.00.