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SpiceJet acquires Q400s after Nordic Aviation Capital settlement
April 3rd 2024
SpiceJet has taken ownership of six Q400 turboprops as part of the resolution of a dispute with lessor Nordic Aviation Capital (NAC). Read More » The LCC has accepted five Q400s from the lessor with the sixth of the type expected to arrive in coming weeks. “Under the agreement, which settles all past liabilities for the Q400s NAC has leased to SpiceJet, the airline acquires full ownership of six Q400s,” SpiceJet said in a regulatory filing. “This agreement also heralds immense long-term savings for SpiceJet, liberating the airline from the obligation of regular monthly rentals for these aircraft.” The NAC deal is the latest in a series of settlements SpiceJet has inked with AerCap, Cross Ocean Partners and Export Development Canada. SpiceJet said the settlements represented billions of rupee in savings.
