Spicejet enters into settlement agreement with its lessor

23 Mar 2015

Spicejet has entered into Settlement Agreement with its lessor, Wilmington Trust SP Services (Dublin) with regard to aircraft operated by the Company. Under this Settlement Agreement, the lessor has agreed to withdrawal of court proceedings and deregistration process of aircraft subject to SpiceJet satisfying the terms of settlement. 

Recently, Delhi High Court had directed the aviation regulator directorate general of civil aviation (DGCA) to deregister six Boeing aircraft leased to SpiceJet on the pleas of the two leasing firms. An airline cannot operate an aircraft once it is deregistered by aviation regulator DGCA.

SpiceJet is India’s most preferred airline who delivers the lowest air fares with the highest consumer value. The airline currently operates flights to over 44 Indian cities and 9 international destinations. Spice Jet has reported a net loss of Rs 275 crore for October-December 2014, higher than the Rs 172 crore loss it posted a year ago.

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