SpiceJet has paid Rs 100 crore to Kal Airways’ promoter Kalanithi Maran, as part of a Rs 380 crore arbitral award order, following a directive from the Delhi High Court on September 11, 2023, instructing the low-cost airline to fulfill the payment obligation. A payment of Rs 77.5 crore had been made to Kal Airways till September 11, while the remaining Rs 22.5 crore was paid on September 12, 2023.
SpiceJet acknowledges the legal process and is committed to complying with all court directives and obligations in the Credit Suisse case and will make the payment of $1.5 million as per the court directive. To date, SpiceJet has already paid a total of $8 million to Credit Suisse.
SpiceJet is among the first private companies that stepped into the Indian aviation sector.
