SpiceJet has entered into settlement agreement with aircraft manufacturer of DHC-8-400 aircraft (De Havilland Aircraft of Canada) wherein the parties have agreed to settle all their disputes under and related to the aircraft purchase agreement and component solution agreement, subject to compliance with the terms of settlement.
All related proceedings before the UK Court and execution proceedings before the Delhi High Court have been stayed and will be withdrawn upon compliance with the settlement terms.
SpiceJet is among the first private companies that stepped into the Indian aviation sector.
