Spicejet enters into in-principle understanding with five lessors

01 Apr 2015

Spicejet has entered into an in-principle understanding with its five lessors managed by BBAM Aircraft Leasing and Finance with regard to five aircraft operated by the Company. Under the understanding, the lessors have agreed to suspend court proceedings (including winding-up proceedings) and deregistration process of aircraft subject to SpiceJet satisfying the terms of settlement and parties executing definitive agreements.

Earlier, the company had entered into Settlement Agreement with its lessor, Wilmington Trust SP Services (Dublin) with regard to aircraft operated by the Company.

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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