Shares of SpiceJet rose 2.05% to ₹62.65 on NSE as of 9:57 am today, after the airline announced the withdrawal of an insolvency case filed by aircraft lessor Aircastle (Ireland) Designated Activity Company. The case was withdrawn following an amicable settlement, marking a significant step in the airline’s efforts to rebuild partnerships and strengthen its financial position.
The settlement resolves a $23.39 million dispute between SpiceJet, Aircastle, and Wilmington Trust SP Services (Dublin) Limited. Both parties agreed on a $5 million settlement amount, alongside terms for the treatment of certain aircraft engines, avoiding prolonged litigation. All ongoing disputes and litigations between the parties have been withdrawn.
This development follows SpiceJet’s successful ₹3,000 crore Qualified Institutional Placement, which has provided the airline with the financial resources to address disputes with lessors and enhance its operational capabilities. The resolution highlights the airline’s commitment to stabilizing its business and maintaining robust relationships with its partners.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
