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India’s SpiceJet settles with third lessor
March 12th 2024
SpiceJet and Echelon Ireland Madison One have reached agreement in a 4.1 billion rupee (US$49.8 million) leasing fees and charges dispute. Read More » In addition to the savings gained from resolving the claims, the settlement includes SpiceJet’s acquisition of two aircraft. “We are pleased to announce the successful resolution of our dispute with Echelon Ireland Madison One Ltd., marking another significant milestone for SpiceJet,” SpiceJet chair and managing director, Ajay Singh, said. “This settlement not only underscores our commitment to financial prudence but enables us to further fortify our fleet with the acquisition of two airframes.” The LCC recently announced a conclusion to claims of monies owed to lessor AerCap’s India subsidiary, Celestial Aviation, and also with a second lessor, Cross Ocean Partners. Settlement of the three matters yielded savings of 6.9 billion rupee, the Mumbai-based carrier said.
