SpiceJet has complied with the directive of the Supreme Court by remitting $1.5 million to Credit Suisse. The payment was executed on September 14, 2023. The airline had already paid a total of $8 million to Credit Suisse.
Earlier, the company had 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.
SpiceJet is among the first private companies that stepped into the Indian aviation sector.
