SpiceJet is utilising its recent capital raising efforts to settle lease liabilities and has reached agreements with two Irish lessors, Engine Lease Finance Corporation and BBAM.
In a filing with the Bombay Stock Exchange on October 15, SpiceJet announced it settled with Aircastle and Wilmington Trust SP Services (Dublin) for just $5m for lease debts totalling $23.39m.
The settlement was achieved through amicable negotiations, allowing for the withdrawal of all ongoing litigations and disputes between SpiceJet and the lessors.
Despite these settlements, other lessors and creditors, including AWAS 36698 Ireland Limited, AWAS 36694 Ireland Limited, AWAS 36695 Ireland Limited, Shannon Engine Support Limited; DAE Capital SPVs, TechJockey InfoTech Private Limited; Alterna Aircraft V.B. Limited and Aviator Capital SPV Aviator ML 29641. still have active cases against SpiceJet pending in the National Company Law Tribunal.
