Spicejet flies high on entering into settlement agreement with its lessor

23 Mar 2015

Spicejet is currently trading at Rs. 22.45, up by 1.00 points or 4.66 % from its previous closing of Rs. 21.45 on the BSE.

The scrip opened at Rs. 21.55 and has touched a high and low of Rs. 23.00 and Rs. 21.30 respectively. So far 2782222 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 25.70 on 25-Feb-2015 and a 52 week low of Rs. 11.10 on 13-Aug-2014.

Last one week high and low of the scrip stood at Rs. 23.50 and Rs. 21.30 respectively. The current market cap of the company is Rs. 1345.77 crore.

The promoters holding in the company stood at 58.46% while Institutions and Non-Institutions held 0.46% and 41.08% respectively.

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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Puchho Befikar
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