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SpiceJet settles dispute with AerCap subsidiary
March 5th 2024
SpiceJet has reached a mutual settlement in a 2.5 billion rupee (US$29.9 million) dispute with AerCap subsidiary, Celestial Aviation. Read More » The India LCC said the agreement has been submitted to the National Company Law Tribunal (NCLT) for the formal withdrawal of the matter. “This settlement marks a significant step forward for both parties and underscores our commitment to finding amicable solutions to complex challenges,” SpiceJet chair and managing director, Ajay Singh, said. “With this resolution, we can focus on revamping our fleet and driving our business forward.” Celestial Aviation commenced insolvency proceedings against SpiceJet for non-payment of US$29.9 million in leasing fees and charges for nine aircraft in 2023. It is one of several leasing companies pursuing payment from SpiceJet through the NCLT.
