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SpiceJet settles with another lessor; avoids legal battle
March 6th 2024
SpiceJet and Cross Ocean Partners have reached a mutual settlement in a 930 million rupee (US$11.2 million) dispute over leasing fees and charges. Read More » The settlement was announced before the Delhi High Court as an execution petition was being pursued by Cross Ocean Partners. “We are pleased to have reached a mutually acceptable resolution with Cross Ocean Partners, which will result in significant cost savings for SpiceJet and also cease prolonged expensive litigation,” SpiceJet chair and managing director, Ajay Singh, said. “This settlement reinforces our commitment to effectively settle with our partners and strengthen our operational capabilities.” SpiceJet recently announced a settlement with lessor AerCap’s India subsidiary, Celestial Aviation.
