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SpiceJet reaches agreement with Carlyle Aviation to convert debt to equity
September 12th 2024
India LCC, SpiceJet, has announced Carlyle Aviation, the commercial aviation investment and servicing arm of Carlyle Group, will convert $30 million of the airline's lease arrears to equity. Read More » “As part of the agreement, Carlyle Aviation will write off $40.17 million in lease arrears and convert $30 million in lease arrears to SpiceJet equity at Rs 100 per share. “This strategic partnership between SpiceJet and Carlyle Aviation will bolster SpiceJet’s financial position, accelerate its growth plans and enhance its ability to compete in India’s aviation market,” a SpiceJet statement said. Carlyle Aviation also will convert $20 million in lease arrears to compulsorily convertible debentures (CCDs) of SpiceXpress and Logistics Private Limited, the statement said.
